Instructions Chart of Accounts Amount Descriptions Journal IN Instructions Rios Financial Co. is a regional insurance company that began operations on January 1, Year 1. The following transactions relate to trading securities acquired by Rios Financial Co., which has a fiscal year ending on December 31 Record these transactions on page 10 Year 1 Feb. 1. May 1. Purchased 7,400 shares of Caldwell Inc. as a trading security at $38 per share plus a brokerage commission of $740 Purchased 1,700 shares of Holland Inc. as a trading security at $55 plus a brokerage commission of S187 Sold 3,850 shares of Caldwell Inc. for $36 per share less a $105 brokerage commission Received an annual dividend of $0.25 per share on Caldwell Inc. stock. The portfolio of trading securities was adjusted to fair values of $36 and $54 per share for Caldwell Ing. and Holland Inc., respectively, July 1. 31. Dec 31 ne 11 Record these transactions on page 11 Year 2 Apr July 31 Oct 14 Purchased 3,000 shares of Fuller Inc. as a trading security at $25 per share plus a $150 brokerage commission Received an annual dividend of $0.45 per share on Caldwell Ing, stock, Sold 600 shares of Futter Inc. for $27 per share less a $60 brokerage commission The portfolio of trading securities had a cost of $289,062 and a fair value of $366,063, requiring a debit batance in Valuation Allowance for Trading Investments of $77,601 (5366,663 - $289,062). Thus, the credit balance from December 31, Year 1, is to be adjusted to the new balance Dec. 31 Required: 1. Journalize the entries to record these transactions. Round all final amounts to the nearest whole dollar 2. Prepare the investment-related current asset balance sheet presentation for Rios Financial Co on December 31, Year 2 3. How are unrealized gains or losses on trading investments presented in the financial statements of Rios Financial Co.? *Refer to the information given and the Chart of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries 'Less" or Plus will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign CHART OF ACCOUNTS Rios Financial Co. General Ledger ASSETS 110 Cash REVENUE 410 Sales 611 Interest Revenue 612 Dividend Revenue 631 Gain on Sale of Investments 641 Unrealized Gain on Trading investments 111 Petty Cash 120 Accounts Receivable 121 Allowance for Doubtful Accounts 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 161 Investments-Caldwell Inc EXPENSES 511 Cost of Merchandise Sold 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 162 Investments-Holland Inc. 163 Investments-Fuller Inc. 165 Valuation Allowance for Trading Investments 166 Valuation Allowance for Available-for-Sale Investments A Service Passwo convokertake AssignmentSessionLocatorinprogress-false Maps MGmail Youtub cBook 194 Accumulated Depreciation office Equipment LIABILITIES 210 Accounts Payable 22 Notes Payable 231 Interest Payable 241 Salaries Payable 251 Sales Tax Payable 538 Store Supplies Expense 561 Depreciation Expense-Store Equipment 562 Depreciation Expense-Office Equipment 500 Miscellaneous Expense 710 Interest Expense 731 Loss on Sale of investments 741 Unrealized Loss on Trading Investments EQUITY 311 Common Stock 312 Paid In Capital in Excess of Par-Common Stock Amount Descriptions Amount Descriptions Increase in retained earnings Net income Net loss Other comprehensive income (loss) Other income (loss) Retained earnings, December 31, Year 2 Retained earnings, January 1, Year 2 Trading investments (at cost) Trading investments (at fair value) Question not attempted JOURNAL Scores 0/13 ACCOUNTIN MATE DESCONTOH POSER ATS LA 1 9 10 Adjusting Entries 11 12 Points ** 2:29 SessionLocatorinprogress-false Service Passna MG YouTube M Read eBook 10. Journalize the entries to record these transactions Refer to the information given and the Chart of Accounts provided for the exact wording of the an entries in your computations, round per share amounts to two decimal places. Question not attempted. JOURNAL Score: 0/113 ACCOUNTI DATE DESCRIPTION POST. REE DEWI CREHE ASSES LIA