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EX 13-15 Fair value journal entries, trading investments The investments of Charger Inc. include a single investment: 14,500 shares of Raiders Inc. common stock purchased

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EX 13-15 Fair value journal entries, trading investments The investments of Charger Inc. include a single investment: 14,500 shares of Raiders Inc. common stock purchased on February 24, 2016, for $38 per share including brokerage commission. These shares were classified as trading securities. As of the December 31, 2016, balance sheet date, the share price had increased to $42 per share. OBJ.3,4 a. Journalize the entries to acquire the investment on February 24, and record the adjust- ment to fair value on December 31, 2016. b. How is the unrealized gain or loss for trading investments reported on the financial statements

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