Carlsville Company, which began operations in 2013, invests its idle cash in trading securities. The following transactions are from its short-term investments in its trading securities.

2013
Jan.	20		Purchased 1,000 shares of Ford Motor Co. at $28 per share plus a $120 commission.
Feb.	9		Purchased 2,300 shares of Lucent at $30 per share plus a $195 commission.
Oct.	12		Purchased 720 shares of Z-Seven at $7.60 per share plus a $100 commission.

2014
Apr.	15		Sold 1,000 shares of Ford Motor Co. at $30 per share less a $290 commission.
July	5		Sold 720 shares of Z-Seven at $10.50 per share less a $95 commission.
July	22		Purchased 1,900 shares of Hunt Corp. at $32 per share plus a $230 commission.
Aug.	19		Purchased 1,700 shares of Donna Karan at $42.00 per share plus a $100 commission.

2015
Feb.	27		Purchased 4,000 shares of HCA at $39 per share plus a $440 commission.
Mar.	3		Sold 1,900 shares of Hunt at $27 per share less a $120 commission.
June	21		Sold 2,300 shares of Lucent at $27.75 per share less a $37 commission.
June	30		Purchased 1,400 shares of Black & Decker at $47.50 per share plus a $595 commission.
Nov.	1		Sold 1,700 shares of Donna Karan at $42.00 per share less a $119 commission.

1) On December 31, 2015, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities when HCAs share price is $41 and Black & Deckers share price is $43.50. (Assume the Fair Value AdjustmentTrading account had an unadjusted balance of zero.

Fair Value Adjustment Computation Trading Securities Portfolio Trading securities' portfolio Number of Sharesat 12/31/15 Fair Value Cost Unrealized Amount Gain or Loss? Share Price HCA Black and Decker Total Unadjusted Balance in the Fair Value Adjustment account Required adjustment in the current year 4,000 $ 41.00 $ 164,000$ 156,4407,560 1,400 4350 60,90067,0956,195) 1,365 224,900$ 223,535$ Gain Journal Entry Worksheet Record the year-end adjusting entry for the securities portfolio as of December 31, 2015 Date General Journal Debit Credit Dec 31 Enter debits before credits done clear entry record entry