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Instructions Name Number of Shares Cost Arden Enterprises Inc. 4,790 $143,700 French Broad Industries Inc. 2,820 64,860 Pisgah Construction Inc. 1,570 100,480 Total $309,040 The market price per share for the trading security portfolio on December 31, Year 1, was as follows: Market Price per Share, Dec. 31, Year 1 Arden Enterprises Inc. French Broad Industries Inc. Pisgah Construction Inc. Required: A. Provide the journal entry to adjust the trading security portfolio to fair value on December 31, Year 1. Refer to the Chart of Accounts for exact wardina of count titloc Instructions sono 100,480 Pisgah Construction Inc. 1,570 Total $309,040 The market price per share for the trading security portfolio on December 31, Year 1, was as follows: Market Price per Share, Dec. 31, Year 1 $34 Arden Enterprises Inc. French Broad Industries Inc. Pisgah Construction Inc. Required: A. Provide the journal entry to adjust the trading security portfolio to fair value on December 31, Year 1. Refer to the Chart of Accounts for exact wording of account titles. B. Assume the market prices of the portfolio were the same on December 31, Year 2, as they were on December 31, Year 1. What would be the journal entry to adjust the portfolio to fair value? A. Provide the journal entry to adjust the trading security portfolio to fair value on December 31, Year 1. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY

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