EX Journal Entries for AvailableforSale Securities.
OBJ.
M Jones Inc. purchased the following availableforsale securities during Y its first year of operations:
Details
The fair value of the various availableforsale securities on December Y was as follows:
Journalize the adjusting entry for the fair value of the portfolio of securities on December Y
SHOW ANSWER
If the fair value of the portfolio of securities were the same on December Y what would be the journal entry to adjust the portfolio to fair value?
If the fair value of the portfolio of securities was $ on December Y what would be the journal entry to adjust the portfolio to fair value?
If the fair value of the portfolio of securities was $ on December Y what would be the journal entry to adjust the portfolio to fair value?Answers are entered in the cells with gray backgrounds.
Cells with nongray backgrounds are protected and cannot be edited.
a
Year
Dec.
Arden Enterprises, Inc.
French Broad Industries, Inc.
Pisgah Construction, Inc.
Total
Fair Value
Cost
Dec Year
Increase decrease in fair value of trading investments
b
Key essay answer here
