ans the short questions please I'll rate any wrong or incomplete ans will call 'em for question refund thanks.

Fair Value Journal Entries, Trading Investments

Gruden Bancorp Inc. purchased a portfolio of trading securities during Year 1. The cost and fair value of this portfolio on December 31, Year 1, was as follows:

Name		Number of Shares		Total Cost		Total Fair Value
Griffin Inc.		1,300		$17,420		$16,370
Luck Company		650		21,320		19,830
Wilson Company		200		6,400		6,530
	Total			$45,140		$42,730

On May 10, Year 2, Gruden Bancorp Inc. purchased 600 shares of Carroll Inc., at $32 per share plus a $120 brokerage commission.

Provide the journal entries to record the following:

a. The adjustment of the trading security portfolio to fair value on December 31, Year 1.

Year 1 Dec. 31

b. The May 10, Year 2, purchase of Carroll Inc., stock.

Year 2 May 10

* Fair Value Journal Entries, Available-for-Sale Investments

Storm, Inc. purchased the following available-for-sale securities during Year 1, its first year of operations:

Name		Number of Shares	Cost
Dust Devil, Inc.		1,100		$32,670
Gale Co.		400		28,760
Whirlwind Co.		2,200		63,800
	Total			$125,230

The market price per share for the available-for-sale security portfolio on December 31, Year 1 was as follows:

	Market Price per Share
	Dec. 31, Year 1
Dust Devil, Inc	$21
Gale Co.	78.5
Whirlwind Co.	28

a. Provide the journal entry to adjust the available-for-sale security portfolio to fair value on December 31, Year 1.

Year 1 Dec. 31

b. Is there any impact of December 31, Year 1 journal entry on the income statement?

, any unrealized gain/loss is reported of the