Fragrance International, a large perfume manufacturer, reported the following in its 2018 annual report to shareholders:
ACCUMULATED OTHER COMPREHENSIVE INCOME
The components of accumulated other comprehensive income (loss) ("AOCI") included in the accompanying consolidated balance sheets consist of the following:
-Prepare summary journal entries that Fragrance International recorded at June 30, 2018, to (1) record the total of any necessary changes to the fair value adjustment for available-for-sale securities and (2) record the total of any tax effects associated with those changes.
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