Chapter $15$ General Ledger

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Kequirement

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Ledger

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Adjustment

Using the drop$-$downs, select the stocks included in the available$-$for$-$sale portfolio as of December $31.$ Calculate the total cost total fair value of the available$-$for$-$sale portfolio as of December $31,$ and calculate the amount of the required year$-$end adjusting entry, if any.

$5$

points

$04$:$10$:$39$

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Adjusted

$\backslash$table$[[$Available$-$for$-$sale securities portfolio at December $31$ year end:,Cost,Fair Value,Unrealized Gain$],[$Company B notes,$$,79,690,$$$,81,000,],[$Company C bonds,,$662,750,,665,000,],[$Company X bonds,,$126,600,,118,000,],[$Company Z notes,,$267,900,,278,000,],[$Total cost$,$$$,1,136,940,$$$,1,142,000,]]$

$\backslash$table$[[$Step $1$:$,\backslash$table$[[$Determine what the unadjusted balance in the fair value$],[$adjustment equals:$]],$$$,5,260,$Debit$],[$Step $2$:$,\backslash$table$[[$Determine what the adjusted balance in the fair value$],[$adjustment account should equal:$]],$$$,200,$Debit$],[$Step $3$:$,\backslash$table$[[$Determine the amount of the adjustment to the fair value$],[$adiustment account reauired to aet from Sten $1$ to Sten $2$:$]],$$$,5,060,$Debit$]]$