Rolyn Companies, ... Osceola County Per... 252F%252Fims.meducation.com%252Fmghmiddleware%252Fm Building Permits o.. Access Building Per. Hillsborough Count. Brevard ce: Knowledge Check (due day 5] Saved Help Save & Ex Checi Required information Exercise 12-17 (Static) Equity investments; fair value through net income (L012-5) [The following information applies to the questions displayed below.] The accounting records of Jamaican Importers, Inc., at January 1, 2021, included the following Assets: Investment in IBM common shares Less: Fair value adjustment $1,345,000 (145,000) $1,200,000 No changes occurred during 2021 in the investment portfolio Exercise 12-17 (Static) Part 2 2. Prepare appropriate adjusting entry(s) at December 31, 2021, assuming the fair value of the IBM common shares was: S1275,000 (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 9 8 of 11 TEM Required information View transaction list Journal entry worksheet 1 Record the fair value adjustment assuming the fair value of the IBM common shares was $1,275,000. Note: Enter debits before credits. Transaction General Journal Debit Credit 8 9 TO X TEM Rolyn Companies, ... Osceola County Per... 252F%252Fims.meducation.com%252Fmghmiddleware%252Fm Building Permits o.. Access Building Per. Hillsborough Count. Brevard ce: Knowledge Check (due day 5] Saved Help Save & Ex Checi Required information Exercise 12-17 (Static) Equity investments; fair value through net income (L012-5) [The following information applies to the questions displayed below.] The accounting records of Jamaican Importers, Inc., at January 1, 2021, included the following Assets: Investment in IBM common shares Less: Fair value adjustment $1,345,000 (145,000) $1,200,000 No changes occurred during 2021 in the investment portfolio Exercise 12-17 (Static) Part 2 2. Prepare appropriate adjusting entry(s) at December 31, 2021, assuming the fair value of the IBM common shares was: S1275,000 (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 9 8 of 11 TEM Required information View transaction list Journal entry worksheet 1 Record the fair value adjustment assuming the fair value of the IBM common shares was $1,275,000. Note: Enter debits before credits. Transaction General Journal Debit Credit 8 9 TO X TEM