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Return to Blackboard Weygandt, Accounting Principles, 12e Help System Announcements PRINTER VERSION 4 BACK NEXT Do It! Review 16-3a Some of Tollakson Corporation's investment securities

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Return to Blackboard Weygandt, Accounting Principles, 12e Help System Announcements PRINTER VERSION 4 BACK NEXT Do It! Review 16-3a Some of Tollakson Corporation's investment securities are classified as trading securities and some are classified as available-for-sale. The cost and fair value of each category at December 31, 2017, were as follows. Cost Fair Value Unrealized Gain (Loss) Trading securities $95,500 $84,500 $(11,000) Available-for-sale securities $59,000 $63,000 $4,000 At December 31, 2016, the Fair Value Adjustment-Trading account had a debit balance of $2,000, and the Fair Value Adjustment-Available- for Sale account had a credit balance of $6,600. Prepare the required journal entries for each group of securities for December 31, 2017. (Credit account titles are automatically enter o for the amounts.) Indented when amount is entered. Do not Indent manually. Ir no entry is required, select "No entry for the account titles and No. Account Titles and Explanation Debit Credit Trading securities: 1 Available for sale securities: 2. Click if you would like to Show Work for this question: Open Show Work

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