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P17-8 & 14 - (c Investment(Norton 125,000 Gain on...

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P17-8   (a)  Investment (Delaney Trading Securities) 1,400,000     Cash 1,400,000 Investment (Patrick Trading Securities) 1,000,000     Cash 1,000,000 Securities Fair Value Adjustment (Trading)     200,000     Unrealized Holding Gain –Income       200,000 Unrealized Holding Loss –Income       280,000     Securities Fair Value Adjustment (Trading)       280,000 Investment (Norton)     725,000     Unrealized Gain     725,000 (b)  Fair value option investments are listed individually, rather than by category. Cost of each item  should represented in the notes. 
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Unformatted text preview: (c) Investment (Norton) 125,000 Gain on Investment 125,000 Cash 25,000 Investment 25,000 P17-14 (a) Put option 240 Cash 240 (b) Put option 1400 Unrealized Gain or Loss –Income 1400 Unrealized Gain or Loss –Income 275 Put option 275 (c) Unrealized Gain or Loss –Income 200 Put option 200 Unrealized Gain or Loss –Income 225 Put option 225 (d) Loss on expiration 225 Put option 225...
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