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 that seems most likely, given the pattern of transactions in the journal entries. Enter all amounts as positive numbers.

Trading Securities

Trading investments at cost	$
Plus valuation allowance for trading investments
Trading investments at fair value	$

Available-For-Sale Securities

Available-for-sale investments at cost	$
Less valuation allowance for available-for-sale investments
Available-for-sale investments at fair value	$

JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1	Jan. 17	Investments-Red Rock Co. Stock		38,500.00
2		Cash			38,500.00
3	Feb. 5	Investments-Sunset Village Bonds		35,000.00
4		Interest Receivable		300.00
5		Cash			35,300.00
6	23	Investments-Mays and Co. Stock		26,250.00
7		Cash			26,250.00
8	Mar. 31	Cash		350.00
9		Interest Receivable			300.00
10		Interest Revenue			50.00
11	Apr. 6	Investment in Minions Corp. Stock		175,000.00
12		Cash			175,000.00
13	30	Cash		750.00
14		Dividend Revenue			750.00
15	Jul. 1	Cash		18,690.00
16		Loss on Sale of Investment		2,520.00
17		Interest Revenue			210.00
18		Investments-Sunset Village Bonds			21,000.00
19	Aug. 14	Cash		41,300.00
20		Gain on Sale of Investments			1,800.00
21		Investments-Harding Construction Stock			39,500.00
22	27	Cash		3,500.00
23		Investment in Minions Corp. Stock			3,500.00
24	Sep. 22	Cash		29,750.00
25		Gain on Sale of Investments			3,500.00
26		Investments-Mays and Co. Stock			26,250.00
27	30	Cash		140.00
28		Interest Revenue			140.00
29	Nov. 1	Investment in Minions Corp. Stock		15,750.00
30		Income of Minions Corp.			15,750.00
31	Dec. 31	Unrealized Loss on Available-For-Sale Investments		3,275.00
32		Valuation Allowance for Available-For-Sale Investments			3,275.00
33	31	Valuation Allowance for Trading Investments		2,150.00
34		Unrealized Gain on Trading Investments			2,150.00