Instructions Gruden Bancorp Inc. purchased a portfolio of trading securities during 20Y3, its first year of operations. The cost and fair value of this portfolio on December 31, 2013, are as follows Cost Issuing Company Fair Value 528.200.00 $31.020,00 Griffin Inc 30.250.00 27.850,00 Laick Company 29.400.00 27.720.00 Wilson Company Total 587850.00 586570.00 On May 10, 2014 Gruden Bancorp Inc purchased trading securities of Carroll Inc. for $27.695. Required: Journalize the entries to record the following a. The adjusting entry for the portfolio of trading securities on December 31, 2073 b. The May 10, 2074 purchase of Carroll inc securities c. The adjusting entry for the portfolio of trading securities on December 31, 2014. Assume that except for me purchase of Carral Inc secundes there were no other transactions involving trading securities in 2014 in addition, assume that me fair value of the portfolio of trading securities on December 31 2044 18 5139,365 d. What amount should be reported for trading investments on the December 31 2014 balance sheet? Refer to the chart of accounts for the exact wording of the account titles. CNOWjournals do not use lines for journal explanatons Every line on ajouma page is used for debitor credit entries. ONOWjournals will automatically indent a creat entry when a credit amount is entered Journalize the adjusting entry for the portfolio of trading securities on December 31, 2043. Refer to the chart of accounts for the exact wording of the account CNOW journals do not use lines for journal explanations. Every ine on a journal page is used for debut or credt entrie CNOW journals will automaticay not mentry when a credit amount is entered JOURNAL ACCOUNTING EQUAT DATE DESCRIPTION DEBIT POST REF CREDIT ASSETS Final Question EN d. What amount should be reported for trading investments on the December 31, 2014, balance sheet? n $ Instructions Gruden Bancorp Inc. purchased a portfolio of Trading securities during 2043, its first year of operations. The cost and fair value of this portfolio on December 31 20Y3, are as follows: Issuing Company Cost Fair Value 1 Griffin Inc. $28,200.00 351.020.00 30.350.00 27.850.00 stuck Company Wilson Company 2940000 77.720.00 TOL $87.850.00 56.70.00 On May 10, 2014 Gruden Bancorp Inc purchased trading securities of Carroll Inc. for $27,805 Required: Joumalize the entries to record the following A. The adjusting entry for the portfolio of trading secunded on December 31 2073 b The May 10, 2014 purchase of Carroll Inc securities c. The adjusting entry for the portfolio of trading securites on December 31, 2014 Assume that except for the purchase or Carrot in secondes there were no omer transactiona levolving trading securities in 2014. In addition, assume that the fair value of the portion of trading secuintes on December 31, 2014, is $139,365 d. What amount should be reported for trading investments on the December 31, 2014 balance sheet? "Refer to the chart of accounts for the exact wording of the account titles ONOWJoumers do not use lines for journal explanations. Every time on a journal page is used for debitor credit entries CNOW Journals will automatically indent a credit entry when a credit amount is entered Instructions Gruden Bancorp Inc. purchased a portfolio of trading securities during 20Y3, its first year of operations. The cost and fair value of this portfolio on December 31, 2013, are as follows Cost Issuing Company Fair Value 528.200.00 $31.020,00 Griffin Inc 30.250.00 27.850,00 Laick Company 29.400.00 27.720.00 Wilson Company Total 587850.00 586570.00 On May 10, 2014 Gruden Bancorp Inc purchased trading securities of Carroll Inc. for $27.695. Required: Journalize the entries to record the following a. The adjusting entry for the portfolio of trading securities on December 31, 2073 b. The May 10, 2074 purchase of Carroll inc securities c. The adjusting entry for the portfolio of trading securities on December 31, 2014. Assume that except for me purchase of Carral Inc secundes there were no other transactions involving trading securities in 2014 in addition, assume that me fair value of the portfolio of trading securities on December 31 2044 18 5139,365 d. What amount should be reported for trading investments on the December 31 2014 balance sheet? Refer to the chart of accounts for the exact wording of the account titles. CNOWjournals do not use lines for journal explanatons Every line on ajouma page is used for debitor credit entries. ONOWjournals will automatically indent a creat entry when a credit amount is entered Journalize the adjusting entry for the portfolio of trading securities on December 31, 2043. Refer to the chart of accounts for the exact wording of the account CNOW journals do not use lines for journal explanations. Every ine on a journal page is used for debut or credt entrie CNOW journals will automaticay not mentry when a credit amount is entered JOURNAL ACCOUNTING EQUAT DATE DESCRIPTION DEBIT POST REF CREDIT ASSETS Final Question EN d. What amount should be reported for trading investments on the December 31, 2014, balance sheet? n $ Instructions Gruden Bancorp Inc. purchased a portfolio of Trading securities during 2043, its first year of operations. The cost and fair value of this portfolio on December 31 20Y3, are as follows: Issuing Company Cost Fair Value 1 Griffin Inc. $28,200.00 351.020.00 30.350.00 27.850.00 stuck Company Wilson Company 2940000 77.720.00 TOL $87.850.00 56.70.00 On May 10, 2014 Gruden Bancorp Inc purchased trading securities of Carroll Inc. for $27,805 Required: Joumalize the entries to record the following A. The adjusting entry for the portfolio of trading secunded on December 31 2073 b The May 10, 2014 purchase of Carroll Inc securities c. The adjusting entry for the portfolio of trading securites on December 31, 2014 Assume that except for the purchase or Carrot in secondes there were no omer transactiona levolving trading securities in 2014. In addition, assume that the fair value of the portion of trading secuintes on December 31, 2014, is $139,365 d. What amount should be reported for trading investments on the December 31, 2014 balance sheet? "Refer to the chart of accounts for the exact wording of the account titles ONOWJoumers do not use lines for journal explanations. Every time on a journal page is used for debitor credit entries CNOW Journals will automatically indent a credit entry when a credit amount is entered
