Question: Ticker Services began operations in 2009 and maintains long-term investments in available- for-sale securities. The year-end cost and fair values for its portfolio of these investments follow. Prepare journal entries to record each year-end fair value adjustment for these securities
Cost Fair Value
December 31, 2009 . . . . . . . . . . . . $374,000 $362,560
December 31, 2010 . . . . . . . . . . . . 426,900 453,200
December 31, 2011 . . . . . . . . . . . . 580,700 686,450
December 31, 2012 . . . . . . . . . . . . 875,500 778,800