2013
Jan.	20		Purchased 2,000 shares of Johnson & Johnson at $21.50 per share plus a $340 commission.
Feb.	9		Purchased 2,200 shares of Sony at $47.20 per share plus a $325 commission.
June	12		Purchased 2,500 shares of Mattel at $28.00 per share plus an $295 commission.
Dec.	31		Per share fair values for stocks in the portfolio are Johnson & Johnson, $22.50; Mattel, $31.90; Sony, $39.00.

2014
Apr.	15		Sold 2,000 shares of Johnson & Johnson at $24.50 per share less a $625 commission.
July	5		Sold 2,500 shares of Mattel at $24.90 per share less a $335 commission.
July	22		Purchased 1,600 shares of Sara Lee at $23.50 per share plus a $580 commission.
Aug.	19		Purchased 1,900 shares of Eastman Kodak at $18.00 per share plus a $298 commission.
Dec.	31		Per share fair values for stocks in the portfolio are: Kodak, $20.25; Sara Lee, $21.00; Sony, $36.00.

2015

Feb.

27

Purchased 3,400 shares of Microsoft at $68.00 per share plus a $625 commission.

June

21

Sold 2,200 shares of Sony at $49.00 per share less a $980 commission.

June

30

Purchased 2,400 shares of Black & Decker at $37.00 per share plus a $535 commission.

Aug.

3

Sold 1,600 shares of Sara Lee at $17.25 per share less a $535 commission.

Nov.

1

Sold 1,900 shares of Eastman Kodak at $23.75 per share less a $725 commission.

Dec.

31

Per share fair values for stocks in the portfolio are: Black & Decker, $40.00; Microsoft, $70.00.

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. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Do not round your intermediate calculations.)

2.

Prepare a table that summarizes the (a) total cost, (b) total fair value adjustment, and (c) total fair value of the portfolio of long-term available-for-sale securities at each year-end. (Do not round your intermediate calculations.)

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. (Do not round your intermediate calculations. Losses should be indicated by a minus sign. )