Question

equity section of its Balanc Grass Security, which began operations in 2015, invests in long-term available-for-sale Problom 15-3A Recording, adjusting, and Following is a series of transactions and events determining its long-term investment activity 2015 Jan. 20 Purchased 1,000 shares of Johnson & Johnson at $20.50 per share plus a $240 comm Feb. 9 Purchased 1.200 shares of Sony at $46.20 per share plus a S225 commission.n Dec. 31 Per share fair values for stocks in the portfolio are Johnson & Johnson, $21.50: Matel.$309 securities Purchased 1,500 shares of Mattel at $27.00 per share plus a $195 commission. Sony, $38. P3 June 12 2016 Apr. 15 Sold 1,000 shares of Johnson & Johnson at $23.50 per share less a $525 commission. July 5 Sold 1,500 shares of Mattel at $23.90 per share less a $235 commission. July 22 Purchased 600 shares of Sara Lee at $22.50 per share plus a $480 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 2017 Feb. 27 June 21 June 30 Aug. 3 Nov. I Dec. 31 Purchased 2,400 shares of Microsoft at $67.00 per share plus a $525 commission. Sold 1,200 shares of Sony at $48.00 per share less an $880 commission. Purchased 1,400 shares of Black &Decker; at $36.00 per share plus a $435 commission. Sold 600 shares of Sara Lee at $16.25 per share less a $435 commission. Sold 900 shares of Eastman Kodak at $22.75 per share less a S625 commission. Per share fair values for stocks in the portfolio are: Black & Decker,$39.00; Microsoft, $69.00 Required 1. Prepare journal entries to record these transactions and events and any ye ar-end fair value adjustments and (c) total fair value Unvenzed 3. Prepare a table that summarizes (a) the realized gains and losses and (b) the unrealized gains or losses to the portfolio of long-term available-for-sale securities. of the portfolio of long-term available-for-sale securities at each year-end. for the portfolio of long-term available-for-sale securities at each year-end. an at 12r120 $9,040 for long-term and events in its lono Selk Steel Co. which began operations on January 4, 2015, had thefollowine ubicc