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At the end of 2024. Ajax Incorporated holds the following trading securities. The Market AdjustmentTrading Securities account has a pre-adjusted credit balance of $500. On
At the end of 2024. Ajax Incorporated holds the following trading securities. The Market AdjustmentTrading Securities account has a pre-adjusted credit balance of $500. On June 15th, 2025. Ajax sold all their holdings in US Govt. bands for 597,000. 1. Prepare journal entry to adjust the portfolio to fair value on December 31, 2024, 2. What is the impact to Ajax's 2025 net income from the sale of US govt. bonds? 3. Same as part 1, but assume that the portfolio is dassified as AFS; 4. Same as part 2, but assume that the portfolio is classified as AFS. Amartel Fair Value Security Cast 12/31/2024 398,163 3 97.663 Cobb Muni Bonds 35,600 37.600 23.800 24,500 $ 157,5635 159,763 US Govt Bonds UPS Paper
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