recording adjusting and reporting long term available for sale securities 461428

Shaq Security, which began operations in 2011, invests in long-term available-for-sale securities. Following is a series of transactions and events determining its long-term investment activity.

2011

Jan. 20 Purchased 1,500 shares of Johnson & Johnson at $20.00 per share plus a $240 commission.

Feb. 9 Purchased 1,100 shares of Sony at $46.20 per share plus a $245 commission.

June 12 Purchased 1,600 shares of Mattel at $27 per share plus an $195 commission.

Dec. 31

Per share fair values for stocks in the portfolio are Johnson & Johnson, $21.00; Mattel, $25.50; Sony, $38.

2012

Apr. 15 Sold 1,500 shares of Johnson & Johnson at $23.00 per share less a $685 commission.

July 5 Sold 1,600 shares of Mattel at $25.50 per share less a $491 commission.

July 22 Purchased 620 shares of Sara Lee at $22.50 per share plus a $470 commission.

Aug. 19 Purchased 900 shares of Eastman Kodak at $17 per share plus a $198 commission.

Dec. 31

Per share fair values for stocks in the portfolio are: Kodak, $19.25; Sara Lee, $20.00; Sony, $35.00.

2013

Feb. 27 Purchased 2,600 shares of Microsoft at $69 per share plus a $525 commission.

June 21 Sold 1,100 shares of Sony at $48.00 per share less a $2,640 commission.

June 30 Purchased 1,500 shares of Black & Decker at $35.00 per share plus a $435 commission.

Aug. 3 Sold 620 shares of Sara Lee at $31.25 per share less a $435 commission.

Nov. 1 Sold 900 shares of Eastman Kodak at $22.75 per share less a $2,309 commission.

Dec. 31 Per share fair values for stocks in the portfolio are: Black & Decker, $38.00; Microsoft, $71.00.

1.

Prepare journal entries to record these transactions and events and any year-end fair value adjustments to the portfolio of long-term available-for-sale securities.

2.

Prepare a table that summarizes the (a) total cost, (b) total fair value adjustment, and (c) total fair value of the portfolio of long-term available-for-sale securities at each year-end.

3.

Prepare a table that summarizes (a) the realized gains and losses and (b) the unrealized gains or losses for the portfolio of long-term available-for-sale securities at each year-end. …..

* please answer it with the same numbers ( Thank you )