The following are in Verbitsky's Company's portfolio of long-term non-trading securities at December 31, 2016. Cost 700

Question:

The following are in Verbitsky's Company's of long-term non-trading securities at December 31, 2016.
Cost
700 shares of Sasha OAO ordinary shares..................€35,000
900 shares of Ukraine OAO ordinary shares..................42,000
800 shares of Zaba OAO preference shares..................22,400
On December 31, the total cost of the equaled total fair value. Verbitsky's Company had the following transactions related to the securities during 2017.
Jan. 7 Sold all 700 ordinary shares of Sasha at €56 per share.
10 Purchased 300 €70 ordinary shares of Vanucci SpA at €78.50 per share.
26 Received a cash of €1.15 per share on Ukraine ordinary shares.
Feb. 2 Received cash dividends of €0.40 per share on Zaba preference shares.
10 Sold all 800 preference shares of Zaba at €26 per share.
July 1 Received a cash of €1.05 per share on Ukraine ordinary shares.
Sept. 1 Purchased an additional 800 €70 ordinary shares of Vanucci SpA at €75 per share.
Dec. 15 Received a cash of €1.50 per share on Vanucci SpA ordinary shares.
At December 31, 2017, the fair values of the securities were:
Ukraine OAO ordinary shares.............€48 per share
Vanucci SpA ordinary shares..............€72 per share
Instructions
(a) Prepare journal entries to record the transactions.
(b) Post to the investment account. (Use T-account.)
(c) Prepare the adjusting entry at December 31, 2017, to report the at fair value.
Also prepare the closing entry required for the investment accounts.
(d) Show the statement of financial position presentation at December 31, 2017, for the investment-related accounts.
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