10&11

Instructions Chart of Accounts Journal Instructions Jets Bancorp Inc. purchased a portfolio of trading securities during 20Y3. The cost and fair value of this portfolio on December 31, 20Y3, was as follows: Name Number of Shares Total Cost Total Fair Value Dolphins Inc 1.45000 531,900.00 28,600.00 Marino Company 1,300.00 $29,000.00 35,100.00 30,960.00 $95,060.00 + Namath Company 860.00 26,660.00 Total $87,160.00 Journalize the entry to record the adjustment of the trading security portfolio to fair value on December 31, 2013. Refer to the Chart of Accounts for exact wording of account titles Valuing Available-for-Sale Securities at Fair Value On January 1, 2045, Valuation Allowance for Available for Sale Investments had a zero balance. On December 31, 2015, the cost of the available for sale securities was $117,000, and the fair value was $120,200. Prepare the adjusting entry to record the unrealized gain or loss on available for sale investments on December 31, 2015 2015 Dec. 31