Johnson Inc.s non-strategic investment portfolio at December 31, 2013, consisted of the following: Johnson had no other

Johnson Inc.’s non-strategic investment portfolio at December 31, 2013, consisted of the following:

Johnson had no other debt and equity investments at December 31, 2013, other than those shown above. During 2014, Johnson engaged in the following transactions:

Required Journalize the above transactions.
Analysis Component: Assume the Allen Corp. shares were sold on January 16, 2015, for $364,000. Calculate the gain or loss and explain whether it isunrealized.

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Debt and Equity Investments Cost Fair Value $145,000 62,000 35,600 65,000 40,000 120,000 Zed Corp. common shares... 2014 17 Jan. Sold 750 common shares of Young Inc. for $36,000. Johnson Inc. planned to hold these shares for less than one year. Purchased 5,000 common shares of Allen Corp. for $300,000. The shares represent a 30% ownership in Allen Corp. Received dividends from Allen Corp. at the rate of $2.50 per share. Sold the remaining Young Inc. shares at $31.50. Purchased a 5% ownership in Davis Corp. by acquiring 10,000 common shares at a total of 589,000. Johnson Inc. will sell these shares in six to nine months. Sold 10,000 shares of Xavier Corporation for $160,000. Allen Corp. announced a net profit of $280,000 for the year Mar. 3 June Aug. Nov. 7 14 28 Dec. 30 31