Question
During 2018, Speedway Financial Corporation had the following held for trading investment transactions: Feb. 1 Purchased 580 CBF common shares for $34,220. Mar. 1 Purchased
During 2018, Speedway Financial Corporation had the following held for trading investment transactions: Feb. 1 Purchased 580 CBF common shares for $34,220. Mar. 1 Purchased 780 RSD common shares for $21,840. Apr. 1 Purchased 7% MRT bonds at face value, for $65,000. Interest is received semi-annually on April 1 and October 1. July 1 Received a cash dividend of $3 per share on the CBF common shares. Aug. 1 Sold 180 CBF common shares at $57 per share. Sept. 1 Received a cash dividend of $1.40 per share on the RSD common shares. Oct. 1 Received the semi-annual interest on the MRT bonds. 1 Sold the MRT bonds for $67,000. Dec. 31 The market prices of the CBF and RSD common shares were $54 and $29 per share, respectively. Speedway had the following held for trading investment transactions in 2019: Mar. 1 Sold 400 CBF common shares for $23,200. June 1 Purchased 2,200 KEF common shares for $30,800. Sept. 1 Received a cash dividend of $1.40 per share on the RSD common shares. Oct. 1 Sold 390 RSD common shares for $12,090. Dec. 31 The market prices of the RSD and KEF common shares were $33 and $11 per share, respectively.
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