(Solution) - Beckham Investments paid 104 000 for a short term trading investment in -(2025 Original AI-Free Solution)

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Beckham Investments paid $104,000 for a short-term trading investment in IBM stock.
1. Suppose the IBM stock decreased in value to $98,000 at December 31. Make the Beckham journal entry to adjust the Short-Term Investment account to market value.
2. Show how Beckham would report the short-term investment on its balance sheet and the unrealized gain or loss on its income statement.