jupitar insurance co. is a regional co. that began operations on Jan. 1,2010. Th

jupitar insurance co. is a regional co. that began operations on Jan. 1,2010. The following transactions relate to trading securities acquired by Jupiter Insurance Co., which has a fiscal year ending on Dec.31:20102010Feb. 21. Purchased 3,000 shares of loral Inc. as a trading security at $25 per share plus a brokerage commission of $600.Mar. 2. Purchased 900 shares of Monarch Inc. as a trading security at $52 per share plus a brokerage commission of $180.May 3. Sold 800 shares of Loral Inc. for $23.50 per share less a $80 brokerage commission.june 8. Received an annual dividend of $0.18 pe share on Loral Inc. stock.Dec.31.The portfolio of trading securities was adjusted to fair values of $24 and $48 per share for Loral Inc. and Monarch Inc., respectively.2011May 11. Purchased 1,600 shares of Echelon Inc. as a trading security at $18 per share plus a $160 brokerage commission.June 11. Received an annual dividend of $0.20 per share on Loral Inc. stock.Aug. 14. Sold 400 shares of Echelon Inc. for $20 per share less a $80 brokerage commission.Dec. 31. The portfolio of trading securities was adjusting to fair value using th following fair values for the trading securities:The portfolio of trading securities was adjusted to fair value.Instructions 1. Journalize the entries to record these transactions2. Prepare the investment-related current asset balance sheet disclosures for Jupiter Insurance Co. on Dec.31,2011.3. How are unrealized gains or losses on trading

"Get 15% discount on your first 3 orders with us"
Use the following coupon
"FIRST15"

Order Now