Business, 18.06.2020 06:57 alanis337455p4xzek

Carlsville Company, which began operations in 2017, invests its idle cash in trading securities. The following transactions are from its short-term investments in trading securities:
2017:
Jan. 28Purchased 800 shares of Ford Motor Co. at $28 per share plus a $125 commission
Feb. 9Purchased 2,900 shares of Lucent at $31 per share plus a $280 commission.
Oct. 12Purchased 728 shares of 2-Seven at $7.68 per share plus a $95 commission.
Dec. 31Fair market value of the short-term investments in trading securities is $121, 300.
2018:
Apr. 15Sold 800 shares of Ford Motor Co. at $30 per share less a $290 commission.
July 5Sold 720 shares of Z-Seven at $10.75 per share less a $95 commission.
July 22Purchased 1,800 shares of Hunt Corp. at $39 per share plus a $225 commission.
Aug. 19Purchased 1,600 shares of Donna Karan at $50.00 per share plus a $129 commission.
Dec. 31Fair market value of the short-term investments in trading securities is $236,855.
2019:
Feb. 27Purchased 3,700 shares of HCA at $32 per share plus a $420 commission.
Mar. 3Sold 1,800 shares of Hunt at $34 per share less a $125 commission.
June 21Sold 2,900 shares of Lucent at $28.75 per share less a $42 commission.
June 30Purchased 1,300 shares of Black & Decker at $47.50 per share plus a $595 commission.
Nov. 1Sold 1,600 shares of Donna Karan at $50.00 per share less a $129 commission.
Dec. 31Fair market value of the short-term investments in trading securities is $185, 900.
Required:
Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year, prepare the adjusting entry to record any necessary fair market value adjustment for the portfolio of trading securities.(Do not round your intermediate calculations)

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Carlsville Company, which began operations in 2017, invests its idle cash in trading securities. Th...

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