Saved Help Save & Exit Submit INVESTMENTS 6 Check my work 10 Ticker Services beg
ID: 2397174 • Letter: S
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Saved Help Save & Exit Submit INVESTMENTS 6 Check my work 10 Ticker Services began operations in 2015 and maintains long term investments in available for-sale securities. The yea fair values for its portfolio of these investments follow . The year-end cost and Fair Value $372,000 $360,860 455,80e 700,500 780,280 Cost Portfolio of Available-for-Sale Securities December 31, 2015 December 31, 2016 December 31, 2017 December 31, 2018 6 points 428,508 600,208 876,900 eBook Hint Print Prepare journal entries to record each year-end fair value adjustment for these securities ences Complete this question by entering your answers in the tabs below.Explanation / Answer
Fair Value Above (Below) Cost :
2015 : (11,140)
2016: 27300
2017: 100300
2018: (96700)
December 31st ,2015
Unrealized loss on trading securities ... Dr 11,140
To fair value adjustment-Available for sale 11,140
December 31st 2016
Fair value Adjustment -Available for Sale ...Dr. 38440
To Unrealised loss -equity. 11,140
To Unrealized gain- Equity. 27,300
December 31st, 2017
Fair value Adjustment -Available for Sale ...Dr. 73000
To Unrealized Gain -equity. 73000
December 31st,2018
Urealized loss- equity. ... Dr. 96700
Unrealized gain-equity. ....Dr. 100300
To. Fair value Adjustment -Available for Sale 197000
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