Spring Time Inc. is a merchandising business headquartered in the U. and selling primarily to wholesalers. The accounting information system is based...

k.

Record unrealized loss on available for sale securities of $2150. (This entry debits AOCI ($1505) and Deferred tax asset ($645) and credits the Investment account ($2150).)

1. Use an Adjusted Trial Balance as of December 31.
2. Use multiple-step Income Statement, a Statement of Comprehensive Income, a Statement of
3. Shareholders' Equity, and a classified Balance Sheet at the end of the December 31 fiscal year.
4. Journalize and post the necessary closing entries.
5. Post-Closing Trial Balance as of December 31.