Fair value journal entries, trading investments 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: 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 Journalize the entry to record the adjustment of the trading security portfolio to fair value on December 31, 20Y3.
Corporate Financial Accounting
Corporate Financial Accounting
Fair value journal entries, trading investments
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:
| 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 |
Journalize the entry to record the adjustment of the trading security portfolio to fair value on December 31, 20Y3.
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