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Most of my answers are wrong Ticker Services began operations in Year 1 and holds long-term investments in available-for-sale debt securities. The year-end cost and
Most of my answers are wrong
Ticker Services began operations in Year 1 and holds long-term investments in available-for-sale debt securities. The year-end cost and fair values for its portfolio of these investments follow. Portfolio of Available-for-Sale Securities December 31, Year 1 December 31, Year 2 December 31, Year 3 December 31, Year 4 Cost $ 12,200 18,100 20,600 14,800 Fair Value $ 18,900 27,800 32,700 21,800 Prepare journal entries to record each year-end fair value adjustment for these securities. Prepare journal entries to recora eacn year-ena tair value adjustment for these securities. View transaction list View journal entry worksheet Debit Credit No 1 Date General Journal Dec. 31, Year 1 Unrealized loss - Equity Fair value adjustment - AFS 6,700 6,700 2 Dec. 31Year 2 16,400 Fair value adjustment - AFS Unrealized loss - Equity Unrealized gain - Equity 6,700 9,700 3 Dec 31, Year 3 Fair value adjustment - AFS 21,800 Unrealized gain - Equity 21,800 4 Dec. 31, Year 4 Unrealized gain - Equity Unrealized loss - Equity Fair value adjustment - AFS 12,100 7,000 19,100Step by Step Solution
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