(Solution) - Nantahla Inc purchased the following available for sale secur -(2025 Original AI-Free Solution)

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Nantahla, Inc., purchased the following available-for-sale securities during 2009, its first year of operations:

The market price per share for the available-for-sale security portfolio on December 31, 2009, and December 31, 2010 was as follows:

a. Provide the journal entry to adjust the available-for-sale security portfolio to fair value on:
1. December 31, 2009
2. December 31, 2010
b. Describe the income statement impact from the December 31, 2010, journalentry.