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Make berroa adjusting entry to reflect necessary fair value

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Question: 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

Reference no: EM131534925

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