Exercise 9-9 Pronghorn Corporation, a Canadian-based international company that follows IFRS 9, has the following securities in its portfolio of investments acquired for trading purposes and accounted for using the FV-NI method on December 31, 2016: Carrying Amount (before Investments 1,300 shares of David Jones Inc., common 4,900 shares of Hearn Corp., common 450 shares of Alessandro Inc., preferred adjustment) $72,500 166,600 76,500 $315,600 Fair Value $67,900 161,800 79,000 $308,700 In 2017, Pronghorn completed the following securities transactions: Mar. 1 Sold the 1,300 shares of David Jones Inc. common at $48.35 per share, less fees of $600 Apr. 1 Bought 900 shares of Oberto Ltd. common at $71 per share, plus fees of $1,100 Pronghorn Corporation's portfolio of trading securities appeared as follows on December 31, 2017: Original Investments 4,900 shares of Hearn Corp., common 900 shares of Oberto Ltd., common 450 shares of Alessandro Inc., preferred Fair Value $163,300 61,600 74,600 $299,500 Cost $166,600 63,900 76,500 $307,000 Assume that the company does not recognize and report dividends and other components of investment gains and losses separately Prepare the Pronghorn Corporation general journal entry to record the adjusting entry for December 31, 2016. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the Pronghorn Corporation general journal entry to record the sale of the David Jones Inc. shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Prepare the Pronghorn Corporation general journal entry to record the purchase of the Oberto Ltd. shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Credit SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the Pronghorn Corporation general journal entry to record the adjusting entry for December 31, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit