Question
Ticker Services began operations in 2015 and maintains long-term investments in available-for-sale securities. The year-end cost and fair values for its portfolio of these investments
Ticker Services began operations in 2015 and maintains long-term investments in available-for-sale securities. The year-end cost and fair values for its portfolio of these investments follow.
Portfolio of Available-for-Sale Securities | Cost | Fair Value | ||||
December 31, 2015 | $ | 369,060 | $ | 357,988 | ||
December 31, 2016 | 420,728 | 445,972 | ||||
December 31, 2017 | 572,190 | 676,901 | ||||
December 31, 2018 | 864,007 | 768,966 | ||||
Prepare journal entries to record each year-end fair value adjustment for these securities.
Calculation adjustment required to fair value adjustment.
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Record the year-end adjusting entry for the securities portfolio as of December 31, 2015.
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Record the year-end adjusting entry for the securities portfolio as of December 31, 2016.
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Record the year-end adjusting entry for the securities portfolio as of December 31, 2017.
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Record the year-end adjusting entry for the securities portfolio as of December 31, 2018.
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