can someone solve this please Fair Value Journal Entries, Trading Investments...
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Fair Value Journal Entries, Trading Investments Gruden Bancorp Inc. purchased a portfolio of trading securities during Year 1. The cost and falr value of this portfollo on December 31 , Year 1, was as follows: On May 10, Year 2, Gruden Bancorp Inc. purchased 1,200 shares of Carroll Inc. at $29 per share plus a $100 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
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