CHAPTER $15$ LAB

Troy's long$-$term available for sale portfolio at the start of this year consists of the

following:

REQUIREMENT

Prepare journal entries to record these transactions, including any

necessary December $31$ adjusting entry to record the fair value adjustment

of the long term investments in availble for sale securities$.$

Determine the amount Troy reports on its December $31$ balance sheet

for its long term investment in avaialable for sale securities$?$

Troy enters into the following transactions involving its available for sale debt

securities this year:

What amount of gains or losses on transactions relating to long term

investments in available for sale securities does Troy report on the income

statement for this year?

The fair values at December $31($end of year$),$ are: