On December 31, 2017, Reggit Company held the following short-term investments in its portfolio of available-for-sale securities.

Question:

On December 31, 2017, Reggit Company held the following short-term investments in its of available-for-sale securities. Reggit had no short-term investments in its prior accounting periods. Prepare the December 31, 2017, adjusting entry to report these investments at fair value.
Available-for-Sale Securities Cost Fair Value
Verrizano bonds payable . . . . . . . . . . . . . $89,600......................$91,600
Preble notes payable . . . . . . . . . . . . . . . . . 70,600........................62,900
Lucerne Company . . . . . . . . . . . . . . . . . 86,500........................83,100
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
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A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...