Paris Enterprises, which began operations in 2013, invests in long-term available-for-sale securities. Following is a series of transactions and events involving its long-term investment activity.

2013

2014

2015

Required 1. Prepare journal entries to record these transactions and events and any year-end fair value adjustments to the portfolio of long-term available-for-sale securities.
2. Prepare a table that summarizes the

(a) total cost,

(b) total fair value adjustment, and

(c) total fair value for the portfolio of long-term available-for-sale securities at each year-end.
3. Prepare a table that summarizes

(a) the realized gains and losses and

(b) the unrealized gains or losses for the portfolio of long-term available-for-sale securities at each year-end.

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Mar. 10 Apr. 7 Sept. 1 Dec. 31 Purchased 1,200 shares of Apple at $25.50 per share plus $800 commission. Purchased 2,500 shares of Ford at $22.50 per share plus $1,033 commission. Purchased 600 shares of Polaroid at $47.00 per share plus $890 commission. Per share fair values for stocks in the portfolio are: Apple. $27.50; Ford. $21.00; Polaroid, $49.00.