Exercise C-7 (Algo) Multiyear fair value adjustments to available-for-sale debt securities 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 $ 12,600 17,900 Fair Value $ 16,500 26,100 21,300 32,600 15,300 20,600 Prepare journal entries to record each year-end fair value adjustment for these securities. No 2 Date Answer is complete but not entirely correct. December 31, Year Unrealized loss - Equity General Journal Fair value adjustment-AFS December 31, Year Fair value adjustment-AFS Debit 3,000 8200 Credit 3,900

Exercise C-7 (Algo) Multiyear fair value adjustments to available-for-sale debt securities 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 $ 12,600 17,900 Fair Value $ 16,500 26,100 21,300 32,600 15,300 20,600 Prepare journal entries to record each year-end fair value adjustment for these securities. No 2 Date Answer is complete but not entirely correct. December 31, Year Unrealized loss - Equity General Journal Fair value adjustment-AFS December 31, Year Fair value adjustment-AFS Debit 3,000 8200 Credit 3,900

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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