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The investments of Charger Inc. include an investment of trading securities of Raiders Inc. purchased on February 24,207, for $462,000. The fair value of the

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The investments of Charger Inc. include an investment of trading securities of Raiders Inc. purchased on February 24,207, for $462,000. The fair value of the securities on December 31,20Y7, is $609,000. a. Journalize the entries for the February 24 purchase and the adjustment to fair value on December 31,20Y7. If an amount box does not require an entry, leave it blank. b. How is a unrealized gain or loss for trading investments reported on the financial statements? The unrealized gain or unrealized loss on trading investments is reported on the (or a separate item if significant). Unrealized losses would be in determining net income, while unrealized gains would be determining net income.. c. If the Raiders Inc. securities had been classified as available-for-sale securities, how would the investment be reported on the financial statements? The unrealized gain on avaliable-for-sale investments would be reported as: The debit balance of Valuation Allowance for Available-for-Sale Investments would be. to the balance of the investments account of $462,000 to report the fair value of $609,000 on the Journal entries for available-for-sale securities M. Jones Inc. purchased the following available-for-sale securities during 20Y5, its first year of operations: The fair value of the various available-for-sale securities on December 31,20O5, was as follows: a. Journalize the adjusting entry for the fair value of the portfolio of securities on December 31, 20y5. If no entry is required, select "no entry required" and leave the amount box blank. If an amount box does not require an entry, leave it blank. b. If the fair value of the portfolio of securities were the same on December 31,20r6, what would be the journal entry to adjust the portfolio to fair value? If no entry is required, select "no entry required" and leave the amount box blank. If an amount box does not require an entry, leave it blank. 20Y6 Dec. 31 c. If the fair value of the portfolio of securities was $155,900 on December 31,20Y6, what would be the journal entry to adjust the portfolio to fair value? If no entry is required, select "no entry required" and leave the amount box blank. If an amount box does not require an entry, leave it blank. 20 Y 6 Dec, 31 d. If the fair value of the portfolio of securities was $151,700 on December 31,20Y6, what would be the journal entry to adjust the portfolio to fair value? If no entry is required, select "no entry required" and leave the amount box blank. If an amount box does not require an entry, leave it blank. 20Y6 Dec, 31

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