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during 2021, Springfield financial corporation had the following trading investment transacations Current Attempt in Progress During 2021, Springfield Financial Corporation had the following trading investment
during 2021, Springfield financial corporation had the following trading investment transacations
Current Attempt in Progress During 2021, Springfield Financial Corporation had the following trading investment transactions: Feb. 1 Purchased 630 CBF common shares for $35,280. Mar. 1 Purchased 760 RSD common shares for $21,280. Apr. 1 Purchased 7% MRT bonds at face value, for $58,000. Springfield received interest from these bonds 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 190 CBF common shares at $55 per share. Oct. 1 Received the semi-annual interest on the MRT bonds. 1 Sold the MRT bonds for $60,100. Dec. 30 RSD declared a dividend of $1.40 per share, payable on January 15 next year. Dec. 31 The market prices of the CBF and RSD common shares were $52 and $29 per share, respectively. Record the above transactions, including any required adjusting entries, using the fair value through profit or loss model. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record entries in the order presented in the question. Ro answers to 0 decimal places, e.g. 5,250. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Revenue from Investment in Associates Aug. 1 Cash Realized Gain on Long-Term Investments Investment in Associates (To record interest on the MRT bonds.) Screenshot (To record sale of MRT hnnds.) The parts of this question must be co er. This part will be available when you complete the part aboveStep by Step Solution
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