TAULU JOURNAL ACCOUNTING EQUATION POST. REF. DEBIT CREDIT DATE Jan. 17 ASSETS LIABILITIESQUITY 1 40,700.00 40,700.00 DESCRIPTION Investments-Red Rock Co. Stock Cash Investments-Sunset Village Bonds Interest Receivable Cash Feb. 5 37,000.00 320.00 5 37,320.00 23 Investments-Mays and Co. Stock 27,750.00 Cash 27,750.00 370.00 320.00 50.00 185,000.00 185,000.00 750.00 750.00 19,746.00 2,664.00 210.00 22,200.00 19 41,300.00 1,800.00 39,500.00 Mar. 31 Cash Interest Receivable Interest Revenue Apr. 6 Investment in Minions Corp. Stock Cash 30 Cash Dividend Revenue Jul. 1 Cash Loss on Sale of Investment Interest Revenue Investments-Sunset Village Bonds Aug. 14 Cash Gain on Sale of Investments Investments-Harding Construction Stock 27 Cash Investment in Minions Corp. Stock Sep.22 Cash Gain on Sale of Investments Investments-Mays and Co. Stock 30 Cash Interest Revenue Nov. 1 Investment in Minions Corp. Stock Income of Minions Corp. Unrealized Loss on Available-For-Sale Dec. 31 Investments Valuation Allowance for Available For Sale Investments 31 Valuation Allowance for Trading Investments Unrealized Gain on Trading Investments 3,700.00 3,700.00 31,250.00 3,500.00 27,750.00 50001 160.00 160.00 29 16,650.00 16,650.00 31 3,275.00 3,275.00 2,150.00 2,150.00 Financial Statements and Valuation Shaded cells have feedback. The accountant preparing the financial statements has asked you to provide the fair value as of the end of the year for the investments. Present the information as it would be shown on the financial statements. Last year, The Wellington Company reported costs of $68,000 in trading investments and $82,000 in available-for-sale investments. Refer to the journal entries shown on The Wellington Company panel. Assume that all investments sold during this year were trading investments and that purchases during the year were new investments. 1. Select the correct label for each line and fill in the amount. In classifying the investments, choose a categorization which seems most likely, given the pattern of transactions in the journal entries. Enter all amounts as positive numbers. If an amount box does not require an entry, leave it blank. Trading Securities Trading investments at cost Plus valuation allowance for trading investments $14,800 X 2,150 $16,950 X Trading investments at fair value Points: 4/6 Available-For-Sale Securities Available-for-sale investments at cost Less valuation allowance for available-for-sale investments $238,650 X 3,275 $241,925 X Available-for-sale investments at fair value Points: 4/6