Journal entries for available-for-sale securities M. Jones Inc. purchased the following available-for-sale securities during 2015, its first year of operations: Issuing Company Arden Enterprises Inc. French Broad Industries Inc. Pisgah Construction Inc. Total Cost $150,000 66,000 104,000 $320,000 The fair value of the various available-for-sale securities on December 31, 2015, was as follows: Issuing Company Arden Enterprises the. Fair Value Dec. 31, 2015 $170,000 French Broad Industries Inc. Pisgah Construction Inc. 71,500) 96,000 $337,500 a. Journalize the adjusting entry for the fair value of the portfolio of securities on December 31, 2015. If no entry is required, select "no entry required" and leave the amount box blank. If an amount box does not require an entry, leave it blank. 2015 Dec. 31 b. If the fair value of the portfolio of securities were the same on December 31, 2016, what would be the journal entry to adjust the portfolio to fair value? If no entry is required, select "no entry required" and leave the amount box blank. If an amount box does not require an entry, leave it blank, 2016 Dec. 31 Check My Work 88 Previous Next> Issuing Company Arden Enterprises Inc. Dec. 31, 2015 $170,000 French Broad Industries Inc. 71,500 Pisgah Construction Inc. 96,000 $337,500 a. Journalize the adjusting entry for the fair value of the portfolio of securities on December 31, 2015. If no entry is required, select "no entry required" and leave the amount box blank. If an amount box does not require an entry, leave it blank. 2015 Dec. 31 b. If the fair value of the portfolio of securities were the same on December 31, 2016, what would be the journal entry to adjust the portfolio to fair value? If no entry is required, select "no entry required" and leave the amount box blank. If an amount box does not require an entry, leave it blank. 2016 Dec. 31 88 c. If the fair value of the portfolio of securities was $340,000 on December 31, 2016, what would be the journal entry to adjust the portfolio to fair value? If no entry is required, select "no entry required" and leave the amount box blank. If an amount box does not require an entry, leave it blank. 2016 Dec. 31 d. If the fair value of the portfolio of securities was $330,000 on December 31, 20Y6, what would be the journal entry to adjust the portfolio to fair value? If no entry is required, select "no entry required" and leave the amount box blank. If an amount box does not require an entry, leave it blank. 2016 Dec. 31 Check My Work 88 Previous Next