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Ticker Services began operations in Year 1 and holds long-term investments in available-for-sale debt securities. The year-end costs 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 No 1 Prepare journal entries to record each year-end fair value adjustment for these securities. 2 3 4 Date December 31, Year Unrealized gain - Income Cost $ 12,300 18,800 21,600 15,100 Answer is complete but not entirely correct. December 31, Year Unrealized gain - Income Debt investments - Available-for-sale December 31, Year Unrealized gain - Income General Journal Debt investments - Available-for-sale December 31, Year Unrealized gain - Income Debt investments - Available-for-sale Fair Value $ 17,800 26,100 32,600 20,100 Debt investments - Available-for-sale XX XX XX XX Debit 5,500 7,300 X 11,000 X 5,000 Credit 5,500✔ 7,300 X 11,000 X 5,000 X

Ticker Services began operations in Year 1 and holds long-term investments in available-for-sale debt securities. The year-end costs 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 No 1 Prepare journal entries to record each year-end fair value adjustment for these securities. 2 3 4 Date December 31, Year Unrealized gain - Income Cost $ 12,300 18,800 21,600 15,100 Answer is complete but not entirely correct. December 31, Year Unrealized gain - Income Debt investments - Available-for-sale December 31, Year Unrealized gain - Income General Journal Debt investments - Available-for-sale December 31, Year Unrealized gain - Income Debt investments - Available-for-sale Fair Value $ 17,800 26,100 32,600 20,100 Debt investments - Available-for-sale XX XX XX XX Debit 5,500 7,300 X 11,000 X 5,000 Credit 5,500✔ 7,300 X 11,000 X 5,000 X

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Ticker Services began operations in Year 1 and holds long-term investments in available-for-sale debt securities. The year-end costs 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 No 1 Prepare journal entries to record each year-end fair value adjustment for these securities. 2 3 4 Date December 31, Year Unrealized gain - Income Cost $ 12,300 18,800 21,600 15, 100 > Answer is complete but not entirely correct. General Journal Debt investments - Available-for-sale December 31, Year Unrealized gain - Income Debt investments - Available-for-sale December 31, Year Unrealized gain - Income Debt investments - Available-for-sale December 31, Year Unrealized gain - Income Fair Value $ 17,800 26,100 32,600 20,100 Debt investments - Available-for-sale x X X X Debit 5,500✔ 7,300 X 11,000 X 5,000 Credit 5,500✔ 7,300 11,000 5,000 X
Transcribed Image Text:Ticker Services began operations in Year 1 and holds long-term investments in available-for-sale debt securities. The year-end costs 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 No 1 Prepare journal entries to record each year-end fair value adjustment for these securities. 2 3 4 Date December 31, Year Unrealized gain - Income Cost $ 12,300 18,800 21,600 15, 100 > Answer is complete but not entirely correct. General Journal Debt investments - Available-for-sale December 31, Year Unrealized gain - Income Debt investments - Available-for-sale December 31, Year Unrealized gain - Income Debt investments - Available-for-sale December 31, Year Unrealized gain - Income Fair Value $ 17,800 26,100 32,600 20,100 Debt investments - Available-for-sale x X X X Debit 5,500✔ 7,300 X 11,000 X 5,000 Credit 5,500✔ 7,300 11,000 5,000 X
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