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Gruden Bancorp inc. purchased a portfolio of iradipg secuntios during 20Y3, its first year of operations. The cost and fair value of this porffolio on

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Gruden Bancorp inc. purchased a portfolio of iradipg secuntios during 20Y3, its first year of operations. The cost and fair value of this porffolio on December 31,20Y3 are as follows: On May 10.20Y4. Gruden Bancorp inc purchased trading securties of Carroll inc. for $27,695. Required: Journaize the entriss to recors the following On May 10,20 Y4, Gruden Bancorp Inc purchased trading secunties or Carrol Inc for $27,695. Required: Joumaize the entres to record the following a. The edjusting entry for the portrolo of trading securties on December 31,20y3. b the May 10,20y4 purchase or Carrol inc securites: c. The adjusting enty for the portfajo or trading securites on December 31,20Y4. Assume inat except for ine purchase or Carroi ine securities there were no other transachions involving trading secuntiesin 20y4 in adddion assume that the fair value of the portfovo of trading securites on December 31,20Y4 is $139,365. d. What amount should be reported for trading investments on the December 11,20Y4 bajance sheer? *Reter to the chart of accounts for the exact wording of the account tites CNowiournas do nor use lines for joumai explanations, Even Whe on a jurnal page is used for debit or credit entries cNow joumals wil automaticaly indent a credif entry when a credir amount is entered CHART OF ACCOUNTS Gruden Bancorp inc. General Ledger ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 121 Allowance for Doubtul Accounts 131 Notes Receivable 132 Interest Receivable 141 Merchandise inventory 145 Office Supples 146 Store Supplies 151 Prepad insurance 161. Trading investinentg Carroli inc REVENUE 410 Sales 411 interest Revertue 412 Dividend Revenue 421. Income of Cartoll inc 431 Gain on Sale of investments 641 Unrealized Gain on Tradng investments 642 Unealized Loss on Trading Ifvestrients EXPENSES 511 Cost of Merchandise Sold 512 Bad Det Expense Instructions Chart of Accounts doumar Finainuestion Chart of Accounts 161. Trading Investments-Carroll inc 165 Valuation Allowance for Trading Investments 166 Valuation Alowance for Available-for-Sale investments 181. Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation-Otice Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 231 interest Payable 241 Salaries Payable 251 Sales Tax Payable 512 Bad Debt Expense 515 Credit Card Expense 516 Cash Short and Over 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Repairs Expense 534 Selling Expenses 535 Rent Expense 536 insurance Expense 537 Othce Supplies Expense 538 Store Supplies Expense 561 Depreciation Expense-Store Equipment 562 Depreciatian Expense-Orfice Equipment 590 Miscellaneous Expense Instructions Chart of Accounts ratans Finat Auestion Chart of Accounts 251 Sales Tax Payable EQUITY 311 Common Stock 312. Paid-In Capital in Excess of Par-Common Stock 321 Preferred Stock 322 Paid-in Capital in Excess of Par-Preferred Stock 331 Treasury Stock 332 Paid-in Captal from Sale of Treasury stock 340 Retained Earnings 350 Unrealized Gain on Available-for-Sale investments 351 Cash Dividends 352. Stock Dividends 590 Miscellaneous Expense 710 interest Expense 721 Loss of Carroll inc 731 Loss on Sale of Investments instruetions Chart of Accounts Joumal Finaf Question Journal Jouser AcCOUNTING EquATior B cricernom port ke ecir cher 1 4 sound Accoumin rquatior estered antered d. What amount should be reported for trading investments on the December 31, 20Y4, balance sheet

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