Check my work m Ticker Services began operations in 2015 and

Check my work m Ticker Services began operations in 2015 and maintains long-term investments in available-for-sale securities. The year-end cost and fair values for its portfolio of these investments follow. points Portfolio of Available-for-Sale Securities December 31, 2015 December 31, 2016 December 31, 2017 December 31, 2018 Cost $308,640 351,850 478,516 722,559 Fair Value $299, 381 372,961 566,084 643, 078 Skipped eBook Prepare journal entries to record each year-end fair value adjustment for these securities. Hint Print Complete this question by entering your answers in the tabs below. References Calculation General Journal Calculation adjustment required to fair value adjustment. 12/31/15 Existing balance in Fair Value Adjustment-AFS (LT) Required balance in Fair Value Adjustment-AFS (LT) Adjustment required to Fair Value Adjustment-AFS (LT) Existing balance in Fair Value Adjustment-AFS (LT) Required balance in Fair Value Adjustment-AFS (LT)

Solution

Solution:

Calculation - Adjustment required to Fair value adjustment
Date	Particulars	Amount
31-Dec-15	Existing balance in fair value adjustment-AFS (LT)	$0.00
	Required balance in fair value adjustment-AFS (LT)	-$9,259.00
	Adjustment required to fair value adjustment-AFS (LT)	-$9,259.00
31-Dec-16	Existing balance in fair value adjustment-AFS (LT)	-$9,259.00
	Required balance in fair value adjustment-AFS (LT)	$21,111.00
	Adjustment required to fair value adjustment-AFS (LT)	$30,370.00
31-Dec-17	Existing balance in fair value adjustment-AFS (LT)	$21,111.00
	Required balance in fair value adjustment-AFS (LT)	$87,568.00
	Adjustment required to fair value adjustment-AFS (LT)	$66,457.00
31-Dec-17	Existing balance in fair value adjustment-AFS (LT)	$87,568.00
	Required balance in fair value adjustment-AFS (LT)	$79,481.00
	Adjustment required to fair value adjustment-AFS (LT)	-$8,087.00