Carlsville Company, which began operations in 2015, invests its idle cash in trading securities. The following transactions are from its short-term investments in trading securities. 2015 Jan. 20 Purchased 900 shares of Ford Motor Co. at $26 per share plus a $125 commission. Feb. 9 Purchased 2,300 shares of Lucent at $31 per share plus a $195 commission Oct 12 Purchased 720 shares of Z-Seven at $7.10 per share plus a $90 commission, Dec 31 Fair value of the short-term investments in trading securities is $105,200. 2016 Apr. 15 Sold 900 shares of Ford Motor Co. at $30 per share less a $290 commission. July 5 Sold 720 shares of Z-Seven at $10.25 per share less a $95 commission July 22 Purchased 1,900 shares of Hunt Corp. at $36 per share plus a $225 commission. Aug. 19 Purchased 1,900 shares of Donna Karan at $46.00 per share plus a $105 commission Dec. 31. Fair value of the short-term investments in trading securities is $221,245. 2017 Feb. 27 Purchased 4,000 shares of HCA at $32 per share plus a $410 commission Mar3 Sold 1.900 shares of Hunt at $31 per share less a $125 commission June 21 Sold 2,300 shares of Lucent at $28.75 per share less a $37 commission. June 30 Purchased 1,500 shares of Black & Decker at $47.50 per share plus a $595 commission Nov. 1 Sold 1,900 shares of Donna Karan at $46.00 per share less a $124 commission Dec. 31 Fair value of the short-term investments in trading securities is $207,100. Required: Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities. (If no entry is required select No journal entry required in the first entry field. Do not round your intermediate calculations.) View transaction fist View journal entry worksheet Credit No Date Jan 20 Debit 23.525 2 General Journal Short term investments --Trading (Ford) Cash 1 23.525 71.495 2 Feb 09 Trading (Lucent) Short-term investments Cash 71.495 5202 Od 12 Trading (Seven) Short-term investments Cash Dec 31 Fair value adjustment-Trading (ST) Unrealized gain-Income 26.710 - Apr 15 Cash Cain on sale of short term investments Short-term investments - Trading Ford Jul 05 Cash Gain on sale of short term investments Short term investments-Trading Z-Seven) Jul 22 Trading (Hunt) 50 525 short term investments Cash Aug 19 87,505 Short term investments-Trading (Karan) Cash 87,505 Dec 31 Unrealed loss income Fax value adjustment Trading (ST) Feb 27 Short term investments-Trading (HCA) Mar 03 Cash Loss on sale of short-term investments Short-term investments Trading (Hunt) Jun 21 cash Loss on sale of short-term investments Short-term investments Trading (Lucent) 13 Jun 30 Short term investments-Trading (BSD) 14 Nov 01 Cash Loss on sale of short-term investments Short term investments Trading (D Karan) 15 Dec 31 Fair value adjustment Trading (ST) Und gaincome
