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Venture Investments purchased the following securities on August 1, 2021. 5,000 common shares of Rising Star Co: $22,500 10,000 common shares of Meteor Inc.: $65.000

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Venture Investments purchased the following securities on August 1, 2021. 5,000 common shares of Rising Star Co: $22,500 10,000 common shares of Meteor Inc.: $65.000 Management decided to classify these investments as fair value through other comprehensive income. On December 31, 2021, the market value of the securities was: Rising Star Co.: $26,250 Meteor Inc.: $59,500 On March 15, 2022, Venture completed the following securities transaction: Purchased 500 common shares of Gemini Corp at $18.50 per share, plus fees of $500. Venture classified this investment as fair value through net income. On December 31,2022, the market value of Venture's investments were: Rising Star Co.: $24,750 Meteor Inc:: $73,000 1. Prepare the journal entries for: a. The 2021 year-end adjusting entries for the 2021 investments; b. The 2022 purchase of Gemini Corp. shares; c. The 2022 year-end adjusting entries 2. Assuming that Venture has no other investments, what is the ending balance in accumulated other comprehensive income on December 31,2022? Venture Investments purchased the following securities on August 1, 2021. 5,000 common shares of Rising Star Co: $22,500 10,000 common shares of Meteor Inc.: $65.000 Management decided to classify these investments as fair value through other comprehensive income. On December 31, 2021, the market value of the securities was: Rising Star Co.: $26,250 Meteor Inc.: $59,500 On March 15, 2022, Venture completed the following securities transaction: Purchased 500 common shares of Gemini Corp at $18.50 per share, plus fees of $500. Venture classified this investment as fair value through net income. On December 31,2022, the market value of Venture's investments were: Rising Star Co.: $24,750 Meteor Inc:: $73,000 1. Prepare the journal entries for: a. The 2021 year-end adjusting entries for the 2021 investments; b. The 2022 purchase of Gemini Corp. shares; c. The 2022 year-end adjusting entries 2. Assuming that Venture has no other investments, what is the ending balance in accumulated other comprehensive income on December 31,2022

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