Kirkland Company had no trading debt securities prior to this year. It had the following transactions this year involving trading debt securities.

Aug.2Purchased Verizon bonds for $12,000.Sept.7Purchased Apple bonds for $37,000.12Purchased Mastercard bonds for $22,000.Oct.21Sold some of its Verizon bonds that had cost $2,100 for $2,200 cash.23Sold some of its Apple bonds that had cost $17,000 for $17,400 cash.Nov.1Purchased Walmart bonds for $42,000.Dec.10Sold all of its Mastercard bonds for $20,000 cash.

How it will look the journal entries to recorded in these transactions.

How to compare the year-end cost and fair values of its trading debt securities. Year-end fair values: Verizon, $10,500; Apple, $23,000; and Walmart, $40,000.

How to adjusting entry to record the year-end fair value adjustment for the portfolio of trading debt securities.

1- Purchased Verizon bonds for $12,000.

Date General Journal Debit Credit

Aug. 2

2- Purchased Apple bonds for $37,000.

Date General Journal Debit Credit

Sept. 7

3- Purchased Mastercard bonds for $22,000.

Date General Journal Debit Credit

Sept. 12

4- Sold some of its Verizon bonds that had cost $2,100 for $2,200 cash.

Date General Journal Debit Credit

Oct. 21

5- Sold some of its Apple bonds that had cost $17,000 for $17,400 cash.

Date General Journal Debit Credit

Oct. 23

6- Purchased Walmart bonds for $42,000.

Date General Journal Debit Credit

Nov. 1

7- Record sale of Mastercard trading securities with a $22,000 cost in return for $20,000 cash.

Date General Journal Debit Credit

Dec. 10

How I would be able to compare the year-end cost and fair values of its trading debt securities. Year-end fair values: Verizon, $10,500; Apple, $23,000; and Walmart, $40,000. How it would look the table filled.

Portfolio of Trading Securities Cost Fair Value Unrealized Amount

Verizon bonds

Apple bonds

Walmart bonds

Total $ $

Record the year-end adjustment to fair value, if any.

Date Account Title Debit Credit

Dec. 1