Homework Answers
| Date | Accounts Title | Dr | Cr | ||||
| 1-Feb | Cash | $42,210 | |||||
| Investment in Trading Securities-CBF common shares | $42,210 | ||||||
| 1-Mar | Investment in Trading Securities-RSD common shares | $24,650 | |||||
| Cash | $24,650 | ||||||
| 1-Apr | Investment in Bonds-MRT | $62,200 | |||||
| Cash | $62,200 | ||||||
| 1-Jul | Cash | $2,010 | |||||
| Dividend Revenue (670*3) | $2,010 | ||||||
| 1-Aug | Cash | $11,780 | |||||
| Loss on sale of investment | $190 | ||||||
| Investment in Trading Securities-CBF common shares | $11,970 | ||||||
| (42210/670*190) | |||||||
| 1-Sep | Cash | $1,360 | |||||
| Dividend Revenue (850*1.6)) | $1,360 | ||||||
| 1-Oct | Cash | $2,177 | |||||
| Interest Revenue (62200*7%*1/2) | $2,177 | ||||||
| 1-Oct | Cash | $64,000 | |||||
| Sale on sale of investment | $1,800 | ||||||
| Investment in Trading Securities-CBF common shares | $62,200 | ||||||
| 31-Dec | Unrealized loss on trading securities-NI | 220 | |||||
| Fair value Adjustment- Trading Securities | 220 | ||||||
| No. of shares | Cost | Fair value | Unrealized gain/(loss) | ||||
| Investment in Trading Securities-CBF common shares | 480 | 30240 | 28320 | -1920 | |||
| (42210/670*480) | (480*59) | ||||||
| Investment in Trading Securities-RSD common shares | 850 | 24650 | 26350 | 1700 | |||
| (850*31) | |||||||
| 56590 | -220 | ||||||
| Statement of Financial position | |||||||
| For the year ended Dec 31 2018 | |||||||
| Current Assets | |||||||
| Investment in Trading Securities (Fair value) | 56590 | ||||||
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Problem 12-2A (Part Level Submission) During 2018, Oak Ridge Financial Corporation had...
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During 2018, Bellevue Financial Corporation had the following held for trading investment transactions: Feb. Purchased 570 CBF common shares for $35,340. 1 Purchased 880 RSD common shares for $27,280. Mar. 1 Purchased 7% MRT bonds at face value, for $62,000. Interest is received semi-annually on April 1 and October 1. Apr. 1 Received a cash dividend of $3 per share on the CBF common shares. Sold 200 CBF common shares at $60 per share. July 1 Aug. 1 Received a...
I need help with the journal entry for dec 31. thanks (lo record sale of MRT...
I need help with the journal entry for dec 31.
thanks
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please show work Problem 16-06 (Part Level Submission) Ivanhoe Corporation is preparing the comparative financial statements...
please show work
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I need help with the journal entry for dec 31.
thanks
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need help with the journal entry for August 1
thanks.
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please show work
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