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Could you give me the answer with proper charts so I can do it on excel Paris Inc. began operations in Year 1. Following is

image text in transcribedCould you give me the answer with proper charts so I can do it on excel

Paris Inc. began operations in Year 1. Following is a series of transactions and events involving its long-term debt investments in availabl for-sale securities. Year 1 Mar. 10 Purchased Apple bonds for $30,600. Apr. 7 Purchased Ford notes for $56,250. Sep. 1 Purchased Polaroid bonds for $28,200. Dec. 31 Fair values for debt in the portfolio are Apple, $33,000; Ford, $54,600; and Polaroid, $29,400. Year 2 Apr. 26 Sold all of the Ford notes for $51,250. June 2 Purchased Duracell bonds for $34,650. June 14 Purchased Sears notes for $25,200. Nov. 27 Sold all of the Polaroid bonds for $30,600. Dec. 31 Fair values for debt in the portfolio are Apple, $31,000; Duracell, $32,400; and Sears, $27,600. Year 3 Jan. 28 Purchased Coca-Cola bonds for $40,000. Aug. 22 Sold all of the Apple bonds for $25,800. Sep. 3 Purchased Motorola notes for $84,000. Oct. 9 Sold all of the Sears notes for $28,800. Oct. 31 Sold all of the Duracell bonds for $27,000. Dec. 31 Fair values for debt in the portfolio are Coca-Cola, $48,000, and Motorola, $82,000. Required 1. Prepare journal entries to record these transactions and events and any year-end fair value adjustments to the portfolio of long-term available-for-sale debt securities. 2. Prepare a table that summarizes the (a) total cost, (b) total fair value adjustment, and (c) total fair value for the portfolio of long-term available-for-sale debt securities at each year-end. Check (2b) Fair Value Adj. bal.: 12/31/Year 1, \$1,950 Dr.; 12/31/Year 2, \$550 Dr. 3. Prepare a table that summarizes (a) the realized gains and losses and (b) the unrealized gains or losses for the portfolio of long-term available-for-sale debt securities at each year-end

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