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Question: Jets Bancorp Inc. purchased a portfolio of

Jets Bancorp Inc. purchased a portfolio of trading securities during 20Y3. The cost and fair value of this portfolio on December 31, 20Y3, was as follows:
Jets Bancorp Inc. purchased a portfolio of trading securities during 20Y3. The cost and fair value of this portfolio on December 31, 20Y3, was as follows:


Journalize the entry to record the adjustment of the trading security portfolio to fair value on December 31, 20Y3.

Journalize the entry to record the adjustment of the trading security portfolio to fair value on December 31, 20Y3.





Transcribed Image Text:

Name Number of Shares Total Cost Total Fair Value Dolphins Inc. 1,400 $28,000 $30,800 Marino Company 1,200 30,000 27,600 Namath Company 800 28,000 26,400 Total $86,000 $84,800


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