Question: Patica Co. began operations in 2010. The cost and fair values for its long-term investments portfolio in available-for-sale securities are shown below. Prepare Paticas December

Patica Co. began operations in 2010. The cost and fair values for its long-term investments portfolio in available-for-sale securities are shown below. Prepare Patica€™s December 31, 2011, adjusting entry to reflect any necessary fair value adjustment for these investments.

Cost Fair Value December 31, 2010$67,842 .73,479 $61,736 77,888 December 31, 2011

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Dec 31 Fair Value AdjustmentAFS LT 10515 Unrealized LossEquity 6106 ... View full answer

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