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 800 shares of Ford Motor Co. at $26 per share plus a $125 commission.
Feb.	9		Purchased 2,200 shares of Lucent at $44.25 per share plus a $578 commission.
Oct.	12		Purchased 750 shares of Z-Seven at $7.50 per share plus a $200 commission.
Dec.	31		Fair value of the short-term investments in trading securities is $130,000.

2016
Apr.	15		Sold 800 shares of Ford Motor Co. at $29 per share less a $285 commission.
July	5		Sold 750 shares of Z-Seven at $10.25 per share less a $102.50 commission.
July	22		Purchased 1,600 shares of Hunt Corp. at $30 per share plus a $444 commission.
Aug.	19		Purchased 1,800 shares of Donna Karan at $18.25 per share plus a $290 commission.
Dec.	31		Fair value of the short-term investments in trading securities is $160,000.

2017
Feb.	27		Purchased 3,400 shares of HCA at $34 per share plus a $420 commission.
Mar.	3		Sold 1,600 shares of Hunt at $25 per share less a $250 commission.
June	21		Sold 2,200 shares of Lucent at $42 per share less a $420 commission.
June	30		Purchased 1,200 shares of Black & Decker at $47.50 per share plus a $595 commission.
Nov.	1		Sold 1,800 shares of Donna Karan at $18.25 per share less a $309 commission.
Dec.	31		Fair value of the short-term investments in trading securities is $180,000.

Required:

1.

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.)

Purchased 800 shares of Ford Motor Co. at $26 per share plus a $125 commission.

Purchased 2,200 shares of Lucent at $44.25 per share plus a $578 commission.

Purchased 750 shares of Z-Seven at $7.50 per share plus a $200 commission.

Record the unrealized gain or loss on short term investment.

Sold 800 shares of Ford Motor Co. at $29 per share less a $285 commission.

Sold 750 shares of Z-Seven at $10.25 per share less a $102.50 commission.

Purchased 1,600 shares of Hunt Corp. at $30 per share plus a $444 commission.

Purchased 1,800 shares of Donna Karan at $18.25 per share plus a $290 commission.

Record the unrealized gain or loss on short term investment.

Purchased 3,400 shares of HCA at $34 per share plus a $420 commission.

Sold 1,600 shares of Hunt at $25 per share less a $250 commission.

Sold 2,200 shares of Lucent at $42 per share less a $420 commission.

Purchased 1,200 shares of Black & Decker at $47.50 per share plus a $595 commission.

Sold 1,800 shares of Donna Karan at $18.25 per share less a $309 commission.

Record the unrealized gain or loss on short term investment.

No

Date

General Journal

Debit

Credit