Patica Co. began operations in 2010. The cost and fair values for its long-term investments portfolio in

Question:

Patica Co. began operations in 2010. The cost and fair values for its long-term investments in available-for-sale securities are shown below. Prepare Patica€™s December 31, 2011, adjusting entry to reflect any necessary fair value adjustment for these investments.

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...