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alion. tions - ving in On October 9, 2019, Korlan Company purchased 1,000 shares of Z Corporation ordinary shares for a total of $10,000 and classified them as trading securities. Thus the cost per share is $10. On December 31, 2019, the market value of the shares was $15 per share. On December 31, 2020, it was $8 per share. 5.) What is the total market value of the 1,000 shares of Z Corporation stock on December 31, 2019. (a.) $1,000 (b.) $2,000 (c.) $10,000 (d.) $15,000 (e.) none of the above 6.) Prepare the appropriate journal entries for December 31, 2019. (a.) Dr. Loss on Trading Securities 2,000; Cr. Trading Securities 2,000 (b.) Dr. Loss on Trading Securities 5,000; Cr. Trading Securities 5,000 (c.) Dr. Trading Securities 5,000; Cr. Gain on Trading Securities 5,000 (d.) Dr. Trading Securities 15,000; Cr. Gain on Trading Securities 15,000 (e.) none of the above 7.) Prepare the appropriate journal entries for December 31, 2020. (a.) Dr. Loss on Trading Securities 5,000; Cr. Trading Securities 5,000 (b.) Dr. Loss on Trading Securities 7,000; Cr. Trading Securities 7,000 (c.) Dr. Loss on Trading Securities 10,000; Cr. Trading Securities 10,000 (d.) Dr. Loss on Trading Securities 15,000; Cr. Trading Securities 15,000 (e.) none of the above