a.) What is the amount recorded for Investment in Trading Securities on 1/15/20X3?

b.) What is the market adjustment account balance on 12/31/X3?

c.) What is the adjusting journal entry to the market adjustment account on 12/31/X4?

d.) What is the reported value of the trading securities on the balance sheet on 12/31/X4?

e.) Based on the above transactions, what is the impact on Net income during 20X3?

Page of 4 ZOOM Use the following information for the following questions: 20x3 1/15 Purchased 6,000 shares of Apple stock at a price of $60 a share, plus a $3,000 brokerage commission. 3/31 Purchased 2,000 shares of Google stock at a price of $20 a share. 11/30 Sold 4,000 shares of Apple stock at $62 a share less a $750 brokerage fee. 12/31 Apple is trading at $63 a share and Google is trading at $16 a share 20x4 4/1 Sold 1,000 share of Google at a price of $16 a share less a $500 brokerage fee a 6/30 Received a $1,000 cash dividend from Apple 12/31 Apple is trading at $65 a share and Google is trading at $16 a share Trading Securties 20x3 Journal Fotries 15 Jan Historical Price per share a 31 Mar 10-Nerd 31 Dec 20x3 Apple Market Value Hist. Cost Google Market Adjustment 2013 0 2:1X 1-Apr Bt-lun 3 20x4 31-Dec Apple Google Market Adjustment 2004 BE Market value Hist. Cost Investment in Trading Securities 2013 AR 0 i Impact N 20X3 B/S Bal 12/31/X3 Investment in Trading Securities 2061 B/S Dal 12/31/14 Page of 4 ZOOM Use the following information for the following questions: 20x3 1/15 Purchased 6,000 shares of Apple stock at a price of $60 a share, plus a $3,000 brokerage commission. 3/31 Purchased 2,000 shares of Google stock at a price of $20 a share. 11/30 Sold 4,000 shares of Apple stock at $62 a share less a $750 brokerage fee. 12/31 Apple is trading at $63 a share and Google is trading at $16 a share 20x4 4/1 Sold 1,000 share of Google at a price of $16 a share less a $500 brokerage fee a 6/30 Received a $1,000 cash dividend from Apple 12/31 Apple is trading at $65 a share and Google is trading at $16 a share Trading Securties 20x3 Journal Fotries 15 Jan Historical Price per share a 31 Mar 10-Nerd 31 Dec 20x3 Apple Market Value Hist. Cost Google Market Adjustment 2013 0 2:1X 1-Apr Bt-lun 3 20x4 31-Dec Apple Google Market Adjustment 2004 BE Market value Hist. Cost Investment in Trading Securities 2013 AR 0 i Impact N 20X3 B/S Bal 12/31/X3 Investment in Trading Securities 2061 B/S Dal 12/31/14