14. The investments of Charger Inc. include a single investment: 11,730 shares of Raiders Inc. common stock purchased on February 24, Year 1, for $38 per share including brokerage commission. These shares were classified as trading securities. As of the December 31, Year 1, balance sheet date, the share price had increased to $45 per share.

Required:

A.	Journalize the entries to acquire the investment on February 24, and record the adjustment to fair value on December 31, Year 1. Refer to the Chart of Accounts for exact wording of account titles.
B.	How is the unrealized gain or loss for trading investments reported on the financial statements?

15.

Gruden Bancorp Inc. purchased a portfolio of trading securities during Year 1. The cost and fair value of this portfolio on December 31, Year 1, was as follows:

1	Name	Number of Shares	Total Cost	Total Fair Value
2	Griffin Inc.	1,290.00	$25,800.00	$28,380.00
3	Luck Company	1,220.00	32,940.00	26,840.00
4	Wilson Company	870.00	32,190.00	26,970.00
5	Total		$90,930.00	$82,190.00

On May 10, Year 2, Gruden Bancorp Inc. purchased 960 shares of Carroll Inc. at $22 per share plus a $140 brokerage commission.

Required:

A.	Provide the journal entry to record the adjustment of the trading security portfolio to fair value on December 31, Year 1.*
B.	Provide the journal entry to record the May 10, Year 2, purchase of Carroll Inc. stock.*
	*Refer to the Chart of Accounts for exact wording of account titles.

16.

The investments of Steelers Inc. include a single investment: 36,590 shares of Bengals Inc. common stock purchased on September 12, Year 1, for $14 per share including brokerage commission. These shares were classified as available-for-sale securities. As of the December 31, Year 1, balance sheet date, the share price declined to $11 per share.

Required:

A.	Journalize the entries to acquire the investment on September 12 and record the adjustment to fair value on December 31, Year 1. Refer to the Chart of Accounts for exact wording of account titles.
B.	How is the unrealized gain or loss for available-for-sale investments disclosed on the financial statements?

17.

Hurricane Inc. purchased a portfolio of available-for-sale securities in Year 1, its first year of operations. The cost and fair value of this portfolio on December 31, Year 1, was as follows:

1	Name	Number of Shares	Total Cost	Total Fair Value
2	Tornado Inc.	800.00	$13,840.00	$16,000.00
3	Tsunami Corp.	1,260.00	31,122.00	36,540.00
4	Typhoon Corp.	2,140.00	43,656.00	43,228.00
5	Total		$88,618.00	$95,768.00

On June 12, Year 2, Hurricane purchased 1,430 shares of Rogue Wave Inc. at $43 per share plus a $115 brokerage commission.

Required:

A.

Provide the journal entries to record the following (refer to the Chart of Accounts for exact wording of account titles):

1.	The adjustment of the available-for-sale security portfolio to fair value on December 31, Year 1.
2.	The June 12, Year 2, purchase of Rogue Wave Inc. stock.

B.

How are unrealized gains and losses treated differently for available-for-sale securities than for trading securities?

*please please answer all of them!! if you can't please answer whichever one you can!