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Dr. Brenner Inc. provided you with the following information regarding investments in trading securities:Investment (Company...

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Accounting

Dr. Brenner Inc. provided you with the following information regarding investments in trading securities:Investment (Company name)Shirley SemolinaLauren's LasagnaClaribel CapelliniRobbie RigatoniShares2000100015002000Cost120,00070,000121,50076,000387,500During December the following transactions occurred:9-Dec16-Dec20-Dec31-Dec5008004002000shrs of Shirley Semolina were sold for shrs of Lauren's Lasagna were sold for shrs. of Victoria's Sono Buoni were acquired for shrs of Robbie Rigatoni were sold forOn December 31,2023, the following securities remained in the Dr. Brenner's trading portfolio:Investment (Company name)Shirley SemolinaLauren's Lasagna Claribel CapelliniVictoria's Sono BuoniInstructions: Prepare:bthe adjusting journal entry required on November 30,2023Assume $5,200 credit balance in the securities fair value adjustment account prior to adjustmentthe journal entries to record the December purchase & sale transactionsthe adjusting journal entry required on December 31,202330-Nov-23Fair Value114,00069,000126,00080,000389,0002,80025.20031-Dec-23FairValue85,50016,800124,5001.000

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