ANSWER:-
1)
($ in million) | ($ in million) | ||
Date | Account Titles and Explanation | Debit | Credit |
Dec-12 | Investment in FF&G Corporation Bonds | 12 | |
Cash | 12 | ||
Dec-13 | investment in Ferry Intercommunication | 22 | |
cash | 22 | ||
Dec-15 | Cash | 12.1 | |
Investment in FF&G Corporation Bonds | 12 | ||
gain on sale of investment | 0.1 | ||
Dec-22 | Investment in US Treasury Bills | 56 | |
Investment in US Treasury Bonds | 65 | ||
Cash | 121 | ||
Dec-23 | Cash | 10 | |
Loss on sale of Investment | 1 | ||
Investment in Ferry Intercommunication ($22 million*1/2) |
11 | ||
Dec-26 | Cash | 57 | |
Investment in US Treasury Bills | 56 | ||
Gain on sale of investment | 1 | ||
Dec-27 | Cash | 63 | |
Loss on sale of Investment | 2 | ||
Investment in US Treasury Bonds | 35 | ||
Dec-28 | Cash | 0.2 | |
Investment Revenue | 0.2 | ||
Dec-31 | Unrealised gain/loss on investments | 1 | |
Fair Value adjustment | 1 | ||
[Adjusting Entry] | |||
Dec-31 |
Investment Revenue [$5 million + $0.2 million |
5.2 | |
Gain on sale of investment $8+0.1+1 million] |
9.1 | ||
Income Summary (balance fig.) |
0.7 | ||
Loss on sale of investment [$11+1+2 million |
14 | ||
Unrealised gain/loss on investments | 1 |
2).
Balance Sheet as at 2018
Trading Securities [ $22 million *1/2] | 11 |
Less: Fair Value Adjustment | (1) |
Net Investment | 10 |
Income Statement as at 2018
Investment Revenue | 5.2 |
Gain on Sale of investment | 9.1 |
Loss on sale of investment | (14) |
Unrealised gain/loss on investments | (1) |
3).
2019 | ($ in million) | ($ in million) | |
Date | Account Title and Explanation | Debit | Credit |
Jan-02 | Cash | 10.2 | |
Loss on sale investment | 0.8 | ||
Investment in ferry Intercommunication | 11 | ||
Jan-05 | Investment in Warehouse Designs | 34 | |
Cash | 34 | ||
Dec-31 | Fair Value adjustment | 1 | |
Unrealised gain/loss on investments | 1 | ||
[Reversal of adjustment entry] |
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