Kyoto Inc. had the following portfolio of securities at the end of its first year of operations:

Question:

Kyoto Inc. had the following of securities at the end of its first year of operations:

Kyoto Inc. had the following portfolio of securities at the

1. Provide the entry necessary to adjust the portfolio of securities to its fair value.
2. In the following year, Kyoto elects to reclassify security B as an available-for sale security. On the date of the transfer, security B€™s fair value is $16,500. Provide the journal entry to reclassify securityB.

Portfolio
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...