Problem 15-1A Recording transactions and fair value adjustments for trading securities LO P1 Carlsville Company, which began operations in 2017, invests its idle cash in trading securities. The following transactions are from its short-term investments in trading securities 2017 an. 20 Purchased 1,090 shares of Ford Hotor Co. at $27 per share plus $130 commission Feb. 9 Purchased 2, 300 shares of Lucent at $37 per share plus a $190 commission. Oct. 12 Purchased 88e shares of Z-Seven at $7.10 per share plus a $95 commission. Dec. 31 Fair value of the short-term investeents in trading securities is $123,000. 2018 Apr. 1s Sold 1,000 shares of Ford Notor Co. at $29 per share less a $285 commission. uly 5 Sold s00 shares of 2-Seven at $10.se per share less a $95 commission. uly 22 Purchased 1,600 shares of Hunt Corp. at 3s per share plus a $22s commission. Aug. 19 Purchased 1,800 shares of Donna Karan at $44.20 per share plus $105 commission Dec. 31 Fair value of the short-tere investsents in trading securities is $216,100. 2019 Feb. 27 Parchased 3,800 shares of HCA at $34 per share plus $420 comnisson Mar3 Sold 1,600 shares of Hunt at $30 per share less$120 commssion une 21 So1d 2,300 shares of Lucent at $34.75 per share less a $32 commission June 30 purchased 1,200 shares of 6lack Decker at $47.50 per share plus a $995 commission. Nov1 Sold 1,800 shares of Donne Karan at 544.28 per share less a $124 commission Dec. 31 Fair value of the short tere investments in trading securities is $193,000 Required: Prepare journal entries to record these short-term investment activities for the years shown, On December 31 of each year, prepare the adjusting entry to record any necessary foir value adjustment for the portfolio of trading securities (of no entry is required for a transactionlevent, select o journal entry required" in the first account field. Do not round your intermediate calculations) Complete this question by entering your answers in the tabs below. 2017 2018 2019 t activities for the years shown, On December 31 of each year, prepare the adjusting entry to record any necessary fair value adjustment for the portfollo of trading securities Complete this question by entering your answers in the tabs below. 2017 2018 2019 Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities. View transaction list Journal entry worksheet Purchased 1,000 shares of Ford Motor Co, at $27 per share plus a s130 commission Note: tnter debits befoe credits lan 20 Recond iew general journal Complete this question by entering your answers in the tabs below. 2018 2019 2017 Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities. View transaction list Journal entry worksheet Sold 1,000 shares of Ford Motor Co. at $29 per share less a $285 commission. Note: Enter debits before credits. General Journal Debit Credit Apr 15 Record entry Clear entry View general journal 2017 2019> 2017 2018 2019 Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities. View transaction list Journal entry worksheet Purchased 3,800 shares of HCA at $34 per share plus a $420 commission. Note: Enter debits before credits. Date Debit Credit Feb 27 Record entry Clear entry View general journal 2018