Ticker Services began operations in 2009 and maintains long term investments in available for sale securities. The year end cost and fair values for its portfolio of these investments follow. Prepare journal entries to record each year end fair value adjustment for these securities.
|
|
Cost |
Fair Value |
|
December 31, 2009 |
$374,000 |
$362,560 |
|
December 31, 2010 |
426,900 |
453,200 |
|
December 31, 2011 |
580,700 |
686,450 |
|
December 31, 2012 |
875,500 |
778,800 |