Question
Required information [The following information applies to the questions displayed below.] Grass Security, which began operations in 2017, invests in long-term available-for-sale securities. Following is
Required information
[The following information applies to the questions displayed below.] Grass Security, which began operations in 2017, invests in long-term available-for-sale securities. Following is a series of transactions and events determining its long-term investment activity. 2017
Jan. | 20 | Purchased 2,800 shares of Johnson & Johnson at $22.30 per share plus a $420 commission. | ||
Feb. | 9 | Purchased 3,000 shares of Sony at $48.00 per share plus a $405 commission. | ||
June | 12 | Purchased 3,300 shares of Mattel at $28.80 per share plus a $375 commission. | ||
Dec. | 31 | Per share fair values for stocks in the portfolio are Johnson & Johnson, $23.30; Mattel, $32.70; and Sony, $39.80. |
2018
Apr. | 15 | Sold 2,800 shares of Johnson & Johnson at $25.30 per share less a $705 commission. | ||
July | 5 | Sold 3,300 shares of Mattel at $25.70 per share less a $415 commission. | ||
July | 22 | Purchased 2,400 shares of Sara Lee at $24.30 per share plus a $660 commission. | ||
Aug. | 19 | Purchased 2,700 shares of Eastman Kodak at $18.80 per share plus a $378 commission. | ||
Dec. | 31 | Per share fair values for stocks in the portfolio are: Kodak, $21.05; Sara Lee, $21.80; and Sony, $36.80. |
2019
Feb. | 27 | Purchased 4,200 shares of Microsoft at $68.80 per share plus a $705 commission. | ||
June | 21 | Sold 3,000 shares of Sony at $49.80 per share less a(n) $1,060 commission. | ||
June | 30 | Purchased 3,200 shares of Black & Decker at $37.80 per share plus a $615 commission. | ||
Aug. | 3 | Sold 2,400 shares of Sara Lee at $18.05 per share less a $615 commission. | ||
Nov. | 1 | Sold 2,700 shares of Eastman Kodak at $24.55 per share less a(n) $805 commission. | ||
Dec. | 31 | Per share fair values for stocks in the portfolio are: Black & Decker, $40.80; and Microsoft, $70.80. |
Complete the following table that summarizes (a) the realized gains and losses and (b) the unrealized gains or losses for the portfolio of long-term available-for-sale securities at each year-end. (Do not round your intermediate calculations. Losses should be indicated by a minus sign. )
Realized Gains (Losses) | |||||
2017 | 2018 | 2019 | |||
Sale of Johnson & Johnson shares | |||||
Sale of Mattel shares | |||||
Sale of Sara Lee shares | |||||
Sale of Sony shares | |||||
Sale of Eastman Kodak shares | |||||
Realized Gains (Losses) | $0 | $0 | $0 | ||
Unrealized Gains (Losses) | |||||
2017 | 2018 | 2019 | |||
Balance in the Fair Value Adjustment AFS account | |||||
Beginning of year - Debit (Credit) | |||||
Required balance - End of year Debit (Credit) | |||||
Required adjustment Unrealized Gain (Loss) |
i do not have any soloution for 1 or 2. this a quiz question please answer
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