prepare berroa s december 31 2011 adjusting entry to reflect any necessary fair valu 648156
Berroa 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 Berroa’s December 31, 2011, adjusting entry to reflect any necessary fair value adjustment for these investments.
|
|
Cost |
Fair Value |
|
December 31, 2010 |
$79,483 |
$72,556 |
|
December 31, 2011 |
85,120 |
90,271 |