Chapter 17 Wrap-up Assignment Problem 1 On December 31, 2018 a company had the following securities in its minority passive equity investment portfolio: Security Cost Equity 550.000 Equity2 24,000 Equity3 63.700 Prior to making the year-end fair value adjustment entry, the Fair Value Adjustment - Equity Investments account had a credit balance of $4,320 The market value of the securities in the company's minority passive equity investment portfolio on December 31, 2018 are as follows: Security Market Value Equity $48.000 Equity2 27.200 Equity 66,00 On June 30, 2019, the company received dividends on its investment in Equity2 securities totaling $3,000. On September 28, 2019, the company sold / of its Equity shares for $28,300. The market value of these securities in the company's minority passive equity investment portfolio on December 31, 2019 are as follows: Security Equity! Equity2 Equity3 Market Value $29.200 24.200 70.500 Determine the following amounts: 1. The unrealized gain or loss recognized on December 31, 2018 for the company's minority passive equity investment portfolio 2. The gain or loss recognized on the sale of y of the company's investment in Equityl securities on September 28, 2019. 3. The balance in the Fair Value Adjustment - Equity Investments account on December 31, 2019 after making the adjusting entry to bring the portfolio to market value. 4. How would the company account for the dividends received on June 30, 2019