On December 31, 2020, 76ers Corp. has the following securities in its portfolio of temporary investments: Cost Mar

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On December 31, 2020, 76ers Corp. has the following securities
in its portfolio of temporary investments:
Cost Market
5,000 common shares of
Heat Corp. $80,000 $69,500
10,000 common shares
of
Celtics Ltd.
91,000 92,500
$171,000 $162,000
All the securities had been purchased in 2020. In 2021,
76ers completed the following securities transaction:
Apr 1 Bought 300 common
shares of Bucks Corp. @ $50 each, plus fees of $550.
On December 31, 2021, the market value of 76ers’ portfolio of
trading equity securities appeared as follows:
Market
5,000 common shares of
Heat Corp. $78,000
10,000 common shares of
Celtics Ltd. 99,250
300 common shares of
Bucks Corp.
12,750
$190,000
Instructions
Assuming 76ers uses the FV–NI model, prepare the journal entries
for:
Please answer all parts.