Acct2206

[10:13 a.m., 2021-05-07] Mohamed: On December 31, 2014, Hubble Corp. has the following securities in its portfolio of temporary investments: Cost Market 5,000 common shares of Orion Corp. $ 80,000 $ 70,500 10,000 common shares of Rigel Ltd. 91,000 92,500 $171,000 $163,000 On April 1, 2015, Hubble purchased 400 common shares of Aries Corp. @ $48.75 each plus 7.0% brokerage fee. On July 1, 2015 Hubble received dividends totalling $5,450 from their portfolio investments. On December 31, 2015, Hubble's portfolio of trading equity securities reported the following market values: 5,000 common shares of Orion Corp. $ 76,600 10,000 common shares of Rigel Ltd. 98,500 400 common shares of Aries Corp 17,750 $192,850 Required: Assuming Hubble uses the FV OCI model, prepare the general journal entries for (Note that dates are required for these journal entries; explanations are not required): a) the 2014 year-end adjusting entry, b) the 2015 transactions, and c) the 2015 year-end adjusting entry. Activate Windows [10:13 a.m., 2021-05-071 Mohamed: Assum iffe Go to Settings to activate Windows