Journal Entries for Trading Investments Instructions Chart of Accounts Journal Final Question 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, 20Y3, are as follows: 1 2 Griffin Inc. 3 Luck Company 4 Wilson Company 5 Total Issuing Company Cost $29,600.00 31,980.00 31,320.00 $92,900.00 Fair Value $32,560.00 25,830.00 28,710.00 $87,100.00 X

Instructions On May 10, 20Y4, Gruden Bancotp inc. purchased trading securities of Carroll inc. for $25,600. Required: Journalize the entries to record the following: a. The adfisting enty for the portiolio of trading securities on December 31, 20rz. b. The May 10. 20Y4, purchase of Carroll inc. secunties. there wove no other transactions involving trading securities in aOV4. In addition, assume that the fair value of the porffolo of trading socurities on December 31,20Y4, is $137,200. d. What amount shoudd be reported for trading investments on the December 31 , 20r4, balance sheet? 'Aefer to the chart of accounts for the exact wording of the account hitles. CNOW joumals do not use lines for joumat explanations. Every aine on a joumal page is used for debit or credit entries. CNOW/ joumals will aufomabically indent a credit entry when a crodit amount is entered. d. What amount should be reported for trading investments on the December 31, 20Y4, balance sheet? Journal Entries for Trading Investments Inatructions