Problem 15-1A Recording transactions and fair value adjustments for trading seces LO P1 Carlsville Company, which began operations in 2017, invests its idle cash in trading securities. The following transactions are from its short-term investments in trading securities. 2017 Jan. 20 Purchased 800 shares of Ford Notor Co. at $28 per share plus a 125 commission Feb. 9Purchased 2,900 shares of Lucent at $35 per share plus a $200 commission Oct. 12 Purchased 780 shares of Z-Seven at $7.10 per share plus a $95 comission Dec. 31 Fair value of the short-term investments in trading securities is $134,600 2018 Apr. 15 Sold 800 shares of Ford Motor Co. at $29 per share less a $285 commission July 5 Sold 780 shares of 2-Seven at $11.00 per share less a $95 commission July 22 Purchased 1,700 shares of Hunt Corp. at $30 per share plus a $230 commission Aug. 19 Purchased 1,600 shares of Donna Karan at $39.50 per share plus a $105 commission Dec. 31 Fair value of the short-term investments in trading securities is $210,245 2019 Feb. 27 Purchased 3,900 shares of HCA at $36 per share plus a $440 commission Mar. 3 Sold 1,700 shares of Hunt at $25 per share less a $125 commission Jun@ 21 Sold 2,900 shares of Lucent at $32.75 per ahare less a 42 commission Jure 30 Purchased 1,500 shares of Black & Decker at $47.50 per share plus a $595 commission Nov. 1 Sold ,600 shares of Donna Karan at $39.50 per ahare less a $124 commiasion Dec. 31 Fair value of the short-term investments in trading securitiea in $220,000 Required Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations.) Answer is not complete. Complete this question by entering your answers in the tabs below 2017 2018 2019 Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities. No Date General Journal Debit Credit Jan 20 Short-term investments-Trading (Ford) 22,525 Cash 22,525 Feb 09 Short-term investments-Trading (Lucent) 101,700 Cash 01,700 Oct 12 Short-term investments-Trading (Z-Seven) 5,633 Cash ,633 Dec 31 Fair value adjustment-Trading (ST) 80,387 Unrealized gain-Income 80,387 2017 2018 2019 Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities. No Date General Journal Debit Credit Apr 15 Cash 22.915 390 22,525 Gain on sale of short-term investments Short-term investments-Trading (Ford) Jul 05 Cash 674 Gain on sale of short-term investments 01 4.9590 Short-term investments-Trading (Z-Seven) 5,633 Jul 22 Short-term investments-Trading (Hunt) 51,230 Cash 1,230 Aug 19 Short-term investments-Trading (D. Karan) 63,305 Cash 63,305 Dec 31 Fair value adjustment-Trading (ST) Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities. View transaction list Journal entry worksheet 2 Purchased 3,900 shares of HCA at $36 per share plus a $440 commission. Note: Enter debits before credits Date General Journal Debit Credit Feb 27 Record entry Clear entry View general journal Journal entry worksheet 4 Sold 1,700 shares of Hunt at $25 per share less a $125 commission. Note: Enter debits before credits. Date General Journal Debit Credit Mar 03 Record entry Clear entry View general journal Journal entry worksheet 4 Sold 2,900 shares of Lucent at $32.75 per share less a $42 commission. Note: Enter debits before credits. Date General Journal Debit Credit Jun 21 Record entry Clear entry View general journal Journal entry worksheet 4 d 1,500 shares of Black & Decker at $47.50 per share plus a $595 commission. Note: Enter debits before credits. Date General Journal Debit Credit Jun 30 Record entry Clear entry View general journal Journal entry worksheet 4 Sold 1,600 shares of Donna Karan at $39.50 per share less a $124 commission. Note: Enter debits before credits. Date General Journal Debit Credit Nov 01 Record entry Clear entry View general journal Journal entry worksheet 4 Record the unrealized gain or loss on short term investment. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal