On December 31 2011 the market value of Pirat Tech
On December 31, 2011, the market value of Pirat Tech Company’s portfolio of long-term available-for-sale securities was $640,000. The cost of these securities was $570,000. Prepare the journal entry to adjust the portfolio to market at year-end, assuming that the company did not have any long-term investments prior to 2011.

Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
Relevant Tutors available to help