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Required information [The following information applies to the questions displayed below] Stoll Company's long-term avallable-for-sale portfolio at the start of this year consists of the
Required information [The following information applies to the questions displayed below] Stoll Company's long-term avallable-for-sale portfolio at the start of this year consists of the following. Stoll enters into the following transactions involving its available-for-sale debt securities this year. January 29 sold one-half of the Company B notes for $78,170. July 6 purchased Company x bonds for $127,000. November 13 purchased Company z notes for $267,500. December 9 Sold all of the Company A bonds for $517,400. Fair values at December 31 are B,$80,600;C,$600,800;X,$120,000; and Z,$279,000. equired: 1. Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities. 2. Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available-for-sale securities. Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities. Journal entry worksheet 5 Sold one-half of the notes Company B for $78,170. Note: Enter debits before credits. Journal entry worksheet 5 Note: Enter debits before credits. Journal entry worksheet 5 Purchased Company Z notes for $267,500. Note: Enter debits before credits. Journal entry worksheet 1 Sold all of the Company A bonds for $517,400. Note: Enter debits before credits. Journal entry worksheet Record the year-end adjusting entry for the securities portfolio as of December 31. Note: Enter debits before credits. What amount of gains or losses on transactions relating to long-term investments in avallable-for-sale debt securities does Stoll port on its income statement for this year
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