Problem #3
				Trading Securities Homework Problem
	Dr. Brenner Inc. provided you with the following information
	regarding investments in trading securities:
						1-Dec-20
						Fair
	Investment (Company name)			Shares	Cost	Value
	Shirley Semolina			2000	$ 120,000	$ 114,000
	Lauren's Lasagna			1000	$ 70,000	$ 69,000
	Claribel Capellini			1500	$ 121,500	$ 126,000
	Robbie Rigatoni			2000	$ 76,000	$ 80,000
					$ 387,500	$ 389,000
	During December the following transactions occurred:
	9-Dec	500	shrs of Shirley Semolina were sold for			$ 27,500
	16-Dec	800	shrs of Lauren's Lasagna were sold for			$ 61,600
	20-Dec	400	shrs. of Victoria's Sono Buoni were acquired for			$ 11,300
	31-Dec	2000	shrs of Robbie Rigatoni were sold for			$ 65,000
	On December 31, 2020, the following securities remained in the Dr. Brenner's trading
	portfolio:
						31-Dec-20
						Fair
	Investment (Company name)			Shares		Value
	Shirley Semolina					$ 85,500
	Lauren's Lasagna					16,800
	Claribel Capellini					124,500
	Victoria's Sono Buoni					11,600
						$ 238,400
	Instructions: Prepare:
	a	the adjusting journal entry required on November 30, 2020
		Assume $5,200 credit balance in the securities fair value adjustment account
		prior to adjustment
	b	the journal entries to record the December purchase & sale transactions
	c	the adjusting journal entry required on December 31, 2020