Problem 13-2A
Stock investment Transactions,trading securities

Heritage Insurance Co. is a regional insurance company that began operations on January 1, 2012. The following transactions relate to trading securities acquired by Heritage Insurance Co., which has a fiscal year ending on December 31:

1.Journalize the entries to record these transactions. For a compound transaction, if an amount box does not require an entry, leave it blank or enter “0”.

 

Date	Amount	Debit	Credit
2012
Feb. 21
Mar. 9
May 3
June 8
Dec. 31
2013
May 21
June 11
Aug. 16
Dec. 31

 

2.Prepare the investment-related current asset balance sheet disclosures for Heritage Insurance Co. on December 31, 2013. Enter all amounts as positive numbers.

 

HERITAGE INSURANCE CO. Balance Sheet (selected items) December 31, 2013
Current assets:

 

3.How are unrealized gains or losses on trading investments disclosed on the financial statements of Heritage Insurance Co.?

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