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question question dealing with trading securities from the book intermediate account 4291506

Question

Question dealing with Trading Securities from the book,Intermediate Accounting by Donald E. Kieso, Jerry J. Weygandt andTerry D. Warfield (Mar 11, 2013) .

TRADINGSECURITIES

Webster Inc. carries the followingmarketable equity securities on its books at December 31, 2007,and

2008. All securities werepurchased during 2007 and there were no beginning balances in anymarket

adjustment accounts.

Trading Securities

                                                                          Market                       Market

                                            Cost                12/31/2007                12/31/2008

VCompany                    $50,000                   $26,000                     $40,000

WCompany                     26,000                     40,000                       40,000

XCompany                      70,000                     60,000                       50,000

Total                             $146,000                  $126000                   $130,000

REQUIRED:

Give the entries necessary to record the valuations for tradingat Dec. 31, 2007 and 2008

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