1 On April 18, Riley Co made a short term investment in 490 common shares of XLT Co The purchase price is $61 per share and the brokers fee is $440 The intent is to actively manage these shares for profit On May 30, Riley Co receives $1 80 per share from XLT in dividends Prepare the April 18 and May 30 journal entries to record these transactions 2 Prepare journal entries to record the following transactions involving the short term securities investments of Natura Co , all of which occurred during year 2015 a On June 15, paid $268,000 cash to purchase Remedys 90 day short term debt securities ($268,000 principal), dated June 15, that pay 6 interest (categorized as held to maturity securities) b On September 16, received a check from Remedy in payment of the principal and 90 days' interest on the debt securities purchased in transactiona (Use 360 days in a year Do not round your intermediate calculations ) 3 Carlsville Company, which began operations in 2015, invests its idle cash in trading securities The following transactions are from its short term investments in trading securities 2015 Jan 20 Purchased 1,000 shares of Ford Motor Co at $27 per share plus a $125 commission Feb 9 Purchased 2,400 shares of Lucent at $38 per share plus a $190 commission Oct 12 Purchased 800 shares of Z Seven at $7 60 per share plus a $90 commission Dec 31 Fair value of the short term investments in trading securities is $127,700 2016 Apr 15 Sold 1,000 shares of Ford Motor Co at $29 per share less a $295 commission July 5 Sold 800 shares of Z Seven at $10 75 per share less a $95 commission July 22 Purchased 1,800 shares of Hunt Corp at $34 per share plus a $225 commission Aug 19 Purchased 1,900 shares of Donna Karan at $44 00 per share plus a $105 commission Dec 31 Fair value of the short term investments in trading securities is $232,090 2017 Feb 27 Purchased 3,800 shares of HCA at $39 per share plus a $410 commission Mar 3 Sold 1,800 shares of Hunt at $29 per share less a $125 commission June 21 Sold 2,400 shares of Lucent at $35 75 per share less a $32 commission June 30 Purchased 1,300 shares of Black Decker at $47 50 per share plus a $595 commission Nov 1 Sold 1,900 shares of Donna Karan at $44 00 per share less a $124 commission Dec 31 Fair value of the short term investments in trading securities is $215,400 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 value adjustment for the portfolio of trading securities (If no entry is required select No journal entry required in the first entry field Do not round your intermediate calculations )

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1. On April 18, Riley Co. made a short-term investment in 490 common shares of XLT Co. The purchase price is $61 per share and

On April 18, Riley Co. made a short-term investment in 490 common shares of XLT Co. The purchase price is $61 per share and the brokers fee is $440. The intent is to actively manage these shares for profit. On May 30, Riley Co. receives $1.80 per share from XLT in dividends.

Prepare the April 18 and May 30 journal entries to record these transactions.

Prepare journal entries to record the following transactions involving the short-term securities investments of Natura Co., all of which occurred during year 2015.

On June 15, paid $268,000 cash to purchase Remedys 90-day short-term debt securities ($268,000 principal), dated June 15, that pay 6% interest (categorized as held-to-maturity securities).

On September 16, received a check from Remedy in payment of the principal and 90 days' interest on the debt securities purchased in transactiona.(Use 360 days in a year. Do not round your intermediate calculations.)

Carlsville Company, which began operations in 2015, invests its idle cash in trading securities. The following transactions are from its short-term investments in trading securities.

2015
Jan.	20	Purchased 1,000 shares of Ford Motor Co. at $27 per share plus a $125 commission.
Feb.	9	Purchased 2,400 shares of Lucent at $38 per share plus a $190 commission.
Oct.	12	Purchased 800 shares of Z-Seven at $7.60 per share plus a $90 commission.
Dec.	31	Fair value of the short-term investments in trading securities is $127,700.

2016
Apr.	15	Sold 1,000 shares of Ford Motor Co. at $29 per share less a $295 commission.
July	5	Sold 800 shares of Z-Seven at $10.75 per share less a $95 commission.
July	22	Purchased 1,800 shares of Hunt Corp. at $34 per share plus a $225 commission.
Aug.	19	Purchased 1,900 shares of Donna Karan at $44.00 per share plus a $105 commission.
Dec.	31	Fair value of the short-term investments in trading securities is $232,090.

2017
Feb.	27	Purchased 3,800 shares of HCA at $39 per share plus a $410 commission.
Mar.	3	Sold 1,800 shares of Hunt at $29 per share less a $125 commission.
June	21	Sold 2,400 shares of Lucent at $35.75 per share less a $32 commission.
June	30	Purchased 1,300 shares of Black & Decker at $47.50 per share plus a $595 commission.
Nov.	1	Sold 1,900 shares of Donna Karan at $44.00 per share less a $124 commission.
Dec.	31	Fair value of the short-term investments in trading securities is $215,400.

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 value adjustment for the portfolio of trading securities.(If no entry is required select No journal entry required in the first entry field. Do not round your intermediate calculations.)