Paris Enterprises, which began operations in 2017. invests in long-term available-for-sale securities. Id. and - Following is a series of transactions and events involving its long-term investment activity. n ,ecuithes 2017 Mar. 10 Purchased 1.200 shares of Apple at 525.50 per share plus 5800 commission. Apr. 7 Purchased 2.500 shares of Ford at $22.50 per share plus SI .033 commission. Sep. 1 Purchased 600 shares of Polaroid at 547.00 per share plus $890 commission. Dec. 31 Per share fair values for mocks in the portfolio are: Apple. 527.50: Ford. 521.04 and Polaroid 549.00. 2018
Aprr 26 Sold 2.500 shares of Ford at S20.50 per share less a SI .207 commission. June 2 Purchased 1,800 shares of Duracell at 519.25 per share plus a 51.050 commission. June 14 Purchased 1.200 shares of Sears at S21 per share plus a 5280 commission. Nov. 27 Sold 600 shares of Polaroid at 551 per share less an 5845 commission. Dec. 31 Per share fair values for sleeks in the ponfolio are: Apple. 529.00: Dur-acell. 518.00:and Sears. 523.00. 2019 Jan. 28 Purchased 1.000 shares of Coca-Cola Co. at $40 per share plus a SI A80 commission. Aug. 22 Sold 1.200 shares of Apple at S21.50 per share less a S1.850 commission. Sep. 3 Purchased 3.000 shares of Motorola at S28 per share plus a 5780 commission. Oct. 9 Sold 1,200 shares of Sean at 524.00 per share less a $599 commission. Oct. ?f-1 Sold 1.800 shares of Duracell at SI 5A10 per share less an S898 commission. Dec. M Per share fair values for stocks in the portfolio are: Coca-Cola. 548.00: and Motorola. $24.00.
Required 1. Prepare journal entries to record these transactions and events and any year-end fair value adjustments to the portfolio of long-term available-for-sale securities. 2. Prepare a table that summarizes the (a) total cost. 04 total fair value adjustment. and (t) total lair alue for the portfolio of long-term available-for-sale securities at each year-end. 3. Prepare a table that summarizes (a) the realized gains and losses and OH the unrealized gains or losses tor the portfitho of long-term available-kir.sale securities at each year-end.
Sample Solution