Prepare entries to record the following non-strategic, short-term investment transactions

Prepare entries to record the following non-strategic, short-term investment transactions of Aryee Corporation:


Analysis Component If the adjusting entry on December 31, 2014, were not recorded, what would the effect be on the income statement and balance sheet? Based on your understanding of GAAP, would it be better or worse to omit an unrealized holding loss than an unrealized holding gain?Explain.

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