Question 1 Concord Corporation has the following securities in its portfolio of investments that are held for trading on December 31, 2021, Concord's year end (all investments are included in one account Investments at FVTPL): Carrying Amount Investments (before adjustment) Fair Value 1,500 shares of David Jones Inc., common $ 73,500 $ 66,390 5,000 shares of Heam Corp. common 180,000 174,450 400 shares of Alessandro Inc., preferred 60,000 61,580 $313,500 $302,420 During 2022, Concord completed the following transactions: Mar. 1 Sold the 1,500 shares of David Jones Inc. common at $41.75 per share. Apr. 1 Bought 700 shares of Oberto Ltd. common at $75.00 per share Concord Corporation's portfolio of held for trading investments appeared as follows on December 31, 2022: Carrying Investments Amount Fair Value 5,000 shares of Heam Corp., common $ 174,450 $ 175,000 700 shares of Oberto Ltd, common 52,500 50,400 400 shares of Alessandro Inc., preferred 61,580 57,000 $288,530 $282,400 Prepare the Concord Corporation general journal entry for the December 31, 2021, adjusting entry. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec 31, 2021 Prepare the Concord Corporation general journal entry for the sale of the David Jones Inc. shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Date Debit Credit Mar 1, 2022 Prepare the Concord Corporation general Journal entry for the purchase of the Oberto Ltd. shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Apr. 1.2022 Prepare the Concord Corporation general journal entry for the December 31, 2022, adjusting entry. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec 31, 2022