Data for Kakisa Financial's trading investments in 2015 are presented in P12-2A. Kakisa had the following trading

Question:

Data for Kakisa Financial's trading investments in 2015 are presented in P12-2A. Kakisa had the following trading investment transactions in 2016:
Mar. 1 Sold 400 CBF common shares for $23,600.
June 1 Purchased 2,000 KEF common shares for $28,000.
Sept. 1 Received a cash of $1.50 per share on the RSD common shares.
Oct. 1 Sold 400 RSD common shares for $12,500.
Dec. 1 The market prices of the RSD and KEF common shares were $33 and $11 per share, respectively.
Instructions
(a) Record the above transactions including any required adjusting entries, continuing the use of the fair value through profit or loss model.
(b) Show how the investments would be presented on the statement of financial position at December 31, 2016.
(c) Determine the balance in each of the income statement accounts that are affected in the transactions above and indicate how they would be presented on the income statement for the year ended December 31, 2016?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...