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[The following information applies to the questions displayed below.] Grass Security, which began operations in 2017, invests in long-term available-for-sale securities. Following is a series of transactions and events determining its long-term investment activity. 2017
Jan.
20
Purchased 2,800 shares of Johnson & Johnson at $22.30 per share plus a $420 commission.
Feb.
9
Purchased 3,000 shares of Sony at $48.00 per share plus a $405 commission.
June
12
Purchased 3,300 shares of Mattel at $28.80 per share plus a $375 commission.
Dec.
31
Per share fair values for stocks in the portfolio are Johnson & Johnson, $23.30; Mattel, $32.70; and Sony, $39.80.
2018
Apr.
15
Sold 2,800 shares of Johnson & Johnson at $25.30 per share less a $705 commission.
July
5
Sold 3,300 shares of Mattel at $25.70 per share less a $415 commission.
July
22
Purchased 2,400 shares of Sara Lee at $24.30 per share plus a $660 commission.
Aug.
19
Purchased 2,700 shares of Eastman Kodak at $18.80 per share plus a $378 commission.
Dec.
31
Per share fair values for stocks in the portfolio are: Kodak, $21.05; Sara Lee, $21.80; and Sony, $36.80.
2019
Feb.
27
Purchased 4,200 shares of Microsoft at $68.80 per share plus a $705 commission.
June
21
Sold 3,000 shares of Sony at $49.80 per share less a(n) $1,060 commission.
June
30
Purchased 3,200 shares of Black & Decker at $37.80 per share plus a $615 commission.
Aug.
3
Sold 2,400 shares of Sara Lee at $18.05 per share less a $615 commission.
Nov.
1
Sold 2,700 shares of Eastman Kodak at $24.55 per share less a(n) $805 commission.
Dec.
31
Per share fair values for stocks in the portfolio are: Black & Decker, $40.80; and Microsoft, $70.80.
Complete the following table that summarizes (a) the realized gains and losses and (b) the unrealized gains or losses for the portfolio of long-term available-for-sale securities at each year-end. (Do not round your intermediate calculations. Losses should be indicated by a minus sign. )
Realized Gains (Losses)
2017
2018
2019
Sale of Johnson & Johnson shares
Sale of Mattel shares
Sale of Sara Lee shares
Sale of Sony shares
Sale of Eastman Kodak shares
Realized Gains (Losses)
$0
$0
$0
Unrealized Gains (Losses)
2017
2018
2019
Balance in the Fair Value Adjustment AFS account
Beginning of year - Debit (Credit)
Required balance - End of year Debit (Credit)
Required adjustment Unrealized Gain (Loss)
i do not have any soloution for 1 or 2. this a quiz question please answer
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