2012Feb. 21 Pirchased 4000 shares of astor Inc. as a trading security at $30 pep

Tuesday July 12, 2022

2012Feb. 21 Pirchased 4000 shares of astor Inc. as a trading security at $30 pepr share plus a brokerage commission of $600Mar. 9 Purchased 800 shares of Milsaps Inc. as a trading security at $41 per share plus a brokerage commission of 160May 3 Sold 600 shares of Astor Inc. for $27.50 per share less an $80 brokerage commissionJune 8 received an annual dividend of $.22 per share on Astor Inc. stockDec 31 The portfolio of trading securities was adjusted to fair values of $32 and $30 per share for Astor Inc. and Milsaps Inc. respectively2013May 21 Purchased 2000 shares of Essex Inc. as a trading security at $21 per share plus a $200 brokerage commissionJune 11. Recieved an annual dividend of $0.25 per share on Astor Inc. stockAug. 16 Sold 400 shares of Essex Inc. for $25 per share less an $80 brokerage commissionDec. 31 The portfolio of trading securities had a cost of $169230 and a fair value of $170560 requiring a debit balance in Valuation Allowance for Trading Investments of $1330 ($170560-$169230). Thus the credit balance from December 31 2012 is to be adjusted to the new balanceInstructions:1. Journalize the entries to record theses transactions.2. Prepare the investment-related current asset balance sheet disc;losures for Heritage Insurance Co. on December 31 2012.How are unrealized gains or losses on trading investments disclosed on the financial statements of Heritage Insurance Company?
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