Elaina Company has the following investments as of December 31, 2020: Investments in common stock of Laser Company $1,500,000 Investment in debt securities of FourSquare Company $3,300,000 In both investments, the carrying value and the fair value of these two investments are the same at December 31, 2020. Elaina's stock investments does not result in significant influence on the operations of Laser Company. Elaina's debt investment is considered held-to-maturity. At December 31, 2021, the shares in Laser Company are valued at $1,100,000; the debt investment securities of FourSquare are valued at $2,500,000 and are considered impaired. Required:
a. Prepare journal entires to record the impairment of these two securities at 12/31/18.
b. Assuming the Faisr Value of the Laser shares is $1,400,000 and the value of its debt investments is $2,950,000, what entries, if any, should be recorded in 2019 related to impairment?
c. Prepare the journal entires at 12/31/18, assuming these securities are not imapred. ( ignore interest)
d. Assume that the debt investment in FolurSquare Compnaywas available-for-sale and the expected credit loss was $900,000.Prepare the Journal entry to record this impairment on 12/31/18.