Journal entries for available-for-sale securities M. Jones Inc. purchased the following available-for-sale securities during 20Y5, its first year of operations: Issuing Company Cost Arden Enterprises

Journal entries for available-for-sale securities M. Jones Inc. purchased the following available-for-sale securities during 20Y5, its first year of operations: Issuing Company Cost Arden Enterprises Inc. $150,000 French Broad Industries Inc. 66,000 Pisgah Construction Inc. 104,000 Total $320,000 The fair value of the various available-for-sale securities on December 31, 20Y5, was as follows: Fair Value Issuing Company Dec. 31, 20Y5 Arden Enterprises Inc. $170,000 French Broad Industries Inc. 71,500 Pisgah Construction Inc. 96,000 $337,500 a. Journalize the adjusting entry for the fair value of the portfolio of securities on December 31, 20Y5. If no entry is required, select “no entry required” and leave the amount box blank. If an amount box does not require an entry, leave it blank. 20Y5 Dec. 31 fill in the blank 759813fbc02affb_2 fill in the blank 759813fbc02affb_3 fill in the blank 759813fbc02affb_5 fill in the blank 759813fbc02affb_6 b. If the fair value of the portfolio of securities were the same on December 31, 20Y6, what would be the journal entry to adjust the portfolio to fair value? If no entry is required, select “no entry required” and leave the amount box blank. If an amount box does not require an entry, leave it blank. 20Y6 Dec. 31 fill in the blank 088feef9900d051_2 fill in the blank 088feef9900d051_3 fill in the blank 088feef9900d051_5 fill in the blank 088feef9900d051_6 c. If the fair value of the portfolio of securities was $340,000 on December 31, 20Y6, what would be the journal entry to adjust the portfolio to fair value? If no entry is required, select “no entry required” and leave the amount box blank. If an amount box does not require an entry, leave it blank. 20Y6 Dec. 31 fill in the blank 9c7359002fc5069_2 fill in the blank 9c7359002fc5069_3 fill in the blank 9c7359002fc5069_5 fill in the blank 9c7359002fc5069_6 d. If the fair value of the portfolio of securities was $330,000 on December 31, 20Y6, what would be the journal entry to adjust the portfolio to fair value? If no entry is required, select “no entry required” and leave the amount box blank. If an amount box does not require an entry, leave it blank. 20Y6 Dec. 31 fill in the blank 048a1f03803fff9_2 fill in the blank 048a1f03803fff9_3 fill in the blank 048a1f03803fff9_5 fill in the blank 048a1f03803fff9_6

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