Question: On December 21 2012 Zurich Company provided you with the

On December 21, 2012, Zurich Company provided you with the following information regarding its trading investments.


During 2013, Carolina Company shares were sold for $9,500. The fair value of the shares on December 31, 2013, was Stargate Corp. shares—$19,300; Vectorman Co. shares—$20,500.
Instructions
(a) Prepare the adjusting journal entry needed on December 31, 2012.
(b) Prepare the journal entry to record the sale of the Carolina Company shares during 2013.
(c) Prepare the adjusting journal entry needed on December 31,2013.
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  • CreatedOctober 11, 2011
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