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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.	$105,450
French Broad Industries Inc.	30,590
Pisgah Construction Inc.	9,200
Total	$145,240

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.	$133,950
French Broad Industries Inc.	32,300
Pisgah Construction Inc.	8,600
	$174,850

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	Valuation Allowance for Available-for-Sale Investments	fill in the blank dad573f8501504b_2	fill in the blank dad573f8501504b_3
	Unrealized Gain on Available-for-Sale Investments	fill in the blank dad573f8501504b_5	fill in the blank dad573f8501504b_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 a2dbacfdd056fdc_2	fill in the blank a2dbacfdd056fdc_3
		fill in the blank a2dbacfdd056fdc_5	fill in the blank a2dbacfdd056fdc_6

c. If the fair value of the portfolio of securities was $177,750 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 af490bfff072009_2	fill in the blank af490bfff072009_3
		fill in the blank af490bfff072009_5	fill in the blank af490bfff072009_6

d. If the fair value of the portfolio of securities was $173,150 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 9b0e8e02705404b_2	fill in the blank 9b0e8e02705404b_3
		fill in the blank 9b0e8e02705404b_5	fill in the blank 9b0e8e02705404b_6

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