Corona Company holds a portfolio of short-term investments. The portfolios acquisition costs and aggregate market values were as follows. None of the securities were sold during this period.

Required:
a. Assuming that Corona adjusted its short-term investments monthly, what amount would appear on its balance sheets at the end of each month for these investments?
b. Give the journal entries to record the transactions and adjustments required for each month.
c. What is the amount of the total gain or loss on the portfolio during this four-month period?

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Acquisition Cost of Securities Purchased During Month $450,000 Aggregate Market Value of Securities Held at End of Month $410,000 480,000 510,000 530,000 Month Ended September 30 October 3 November 30 December 31 50,000 20,000 20,000 $540,000