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Exercise C-7 Adjusting available-for-sale securities to fair value LO P3 On December 31,2015, Reggit Company...

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Exercise C-7 Adjusting available-for-sale securities to fair value LO P3 On December 31,2015, Reggit Company held the following short-term investments in its portfolio of available-for-sale securities. Reggit had no short-term investments in its prior accounting periods Prepare the December 31,2015, adjusting entry to report these investments at fair value. (If no entry is required select No journal entry required in the first entry field) Fair Value Adjustment Computation-Available for Sale Portfollo Cost Fair Value Unrealized Amount Verrizano Corporation bonds payable Preble Corporation notes payable Lucerne Company common stock Total 66,900 61,800 43,600 81,500 203,700186,900 52,000 84,800

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