Sournal entries for trading irrvestments The investaients of Charger inc, indude an investment of trasing securitint of Raiders inc. purchased on february 24,2007, for 5126,000 . The fair vatue of ite securites en oferember 31. 20ar, is $168,000 a. Journalize the entries for the february 24 purchase and the adjustenent to foir value on December a1, 2orn. If an amount baxdets not require as entry, iexe it bank b. How is a unrealited gain or loss for trading investments iepoited on the finkitial statements? The unreasied gain or unrealized loss on trading investrsents w repseted os the determining net incores, While unrealized gains wuold be in determinis net insomen The uncealized gain on syadableffor-sale inveltments nocld Eereported as The detit Balance of Valugeion alosance for Avalubiefken-5ale I Frestitents nouga be: to the balance of the investments account of 1120,000 to report the farr yzue of 1160,008 on the Equity and Avallable-for-Sale Investments O'Brien Industries inc, is a book publisher. The available-for-sale investments at cost and fair value on December 31,20Y4, are as follows: The investinent in Jolly Roger Co, stock represents 30% of the outstanding shares of Jolly Roger Co. The following selected transactions occurred during 20rs: Jan. 2. Purchased 594,400 of Gocar inc. 5%,10-year bonds at 100. The bonds are classified as an avallable-for-sale investment. The bonds pay interest on June 30 and December 31 . June 30. Feceived interest for 6 months on the Gozar the. bonds purchased on January 2. oct. 1. Purchased $40,000 of Nightlibe Co. 6%,10-year bonds at 100. The bonds are classified as an available-for-sale investment, The bonds pay interest on October 1 and Agril 1 . 9. Dividends of $12,500 are received on the Jell foger co, investwent. Oec. 31. Jolly Roger Co. reported a total net income of \$112,000 for 20y5, which o Beien industries inc, recorded using the equity method. 31. Received interest for 6 months on the Gozar inc. bonds purchased of january 2 1. Purchased $40,000 of Nightline C0,6%, I0-vear borids at 100 . The bonds are classified as an available-for-sale investment. The bonds pay interest on october 1 and April 1. 9. Dividends of $12,500 are received on the Jolly Roger Co, investment. Dec. 31. Jolly Roger Co, reported a total net income of $112,000 for 20Y5, which O'Brien industries inc, recorded using the equity method. 31. Received interest for 6 months on the Gozar Inc. bonds purchased on January 2. 31. Accrued 3 months of interest on the Nightline bonds. 31. Adjusted the avaliable-for-sale investment portfolio to fair value, using the follewing fair values: For the year ending December 31,205, OBrien Industries Inc, reported cet income of 3148,230 and pald no dividends. Reguired: The comparative unclassified batance sheets for December 31,20v4 and 205 are provided below. Selected balances are missing. Determine the missing amounts. the negative amounts. Do not round interim calculations. Round final answers to nearest dollar. O'Brien Industries Inc. Partial Balance Sheets the negative amounts. Do not round interim calculations. Round final answers to nearest dollar
