Basil Services began operations in 2007 and maintains long term investments in available for sale securities The year end cost and fair values for its portfolio of these investments follow Prepare journal entries to record each year end fair value adjustment for these securities Cost Fair Value Dec...

2007 Dec 31 Unrealized LossEquity 11787 Fair Value AdjustmentAFS LT 11787 ...

Basil Services began operations in 2007 and maintains long-term investments in available-for-sale securities. The year-end cost and

Question:

Basil Services began operations in 2007 and maintains long-term investments in available-for-sale securities. The year-end cost and fair values for its of these investments follow. Prepare journal entries to record each year-end fair value adjustment for these securities.

Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...