The following information pertains to Fox Inc.’s portfolio of marketable securities for the Year… 2 answers below »

The following information pertains to Fox Inc.’s portfolio of marketable securities for the Year ended Dec 31, Year 1 and Dec 31, Year 2. Note 1: Fox Inc. uses US GAAP Note 2: Fox Inc. uses valuation accounts to record changes in the fair value of its marketable securities Note 3: The Martin Co. security was purchase at par value Note 4: The decline in the value of Martin Co. is considered to be other than temporary Requirement: Record the journal entries for the following marketable securities transactions based on the information given in the table. Mark to market journal entry for the Smith Co security at 12/31 Year 1 Mark to market journal entry for the Jones Co security at 12/31 Year 1 Mark to market journal entry for the Williams Co security at 12/31 Year 1 Mark to market journal entry for the Gores Co security at 12/31 Year 1 Mark to market journal entry for the Smith Co security at 12/31 Year 2 Mark to market journal entry for the Jones Co security at 12/31 Year 2 Mark to market journal entry for the Williams Co security at 12/31 Year 2 Mark to market journal entry for the Gores Co security at 12/31 Year 2 Journal entry to record purchase of Martin Co. Investment Journal entry to record the impairment of Martin Co. Investment