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Exercise 15-5 Fair value adjustment to available-for-sale debt securities LO P3 On December 31, Luack Co held the following short-term available for sale securities Lack had no short-term investments prior to the current period. Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities Complete this question by entering your answers in the tabs below. Fair Value Adjustment Ceneral Journal Computation of fair value adjustment Computation of Fair Value Adjustment Cost Fair Wal Available for Sale Securities Unrealized COSI Fa m ount $ $ Nintendo Co notes Aslantic bands Kellogg Co notes McDonald's Corp bonds Totals 44,450 49,000 25,000 26 300 164 750 40.900 47.000 22 200 4400 163,900 $ $ Exercise 15-7 Accounting for stock investments with insignificant influence LO P4 Prepare journal entries to record the following transactions involving the short-term stock investments of Duke Co, all of which Occurred during the current year a. On March 22. purchased 1000 shares of RP Company stock at $10 per share. Dukes stock wivesmert results in it hamgan insignificant i nce over RPI b. On July received a St per share cash dividend on the RP1 stock purchased in parta c. On October 8, sold 50 shares of RP stock for $15 per share View transaction ist Journal entry worksheet 1 2 3 On March 22, purchased 1,000 shares of RPI Company stock at $10 per share Duke's stock investment results in it having an insignificant influence over RPI Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal