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help please Journal entries for trading investments Gruden Bancorp Inc. purchased a portfolio of trading securities during 20y3, its first year of operations. The cost
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Journal entries for trading investments Gruden Bancorp Inc. purchased a portfolio of trading securities during 20y3, its first year of operations. The cost and falr value of this portfollo on December 31,20Y3, are as follows: On May 10, 20Y4, Gruden Bancorp Inc, purchased trading securities of Carroll Inc. for $17,730. Joumalize the entries to record the following: If an amount box does not require an entry, leave it blank. a. The adjusting entry for the portfolio of trading securities on December 31,20Y3. b. The May 10,20Y4, purchase of Carroll Inc. securitles. 20Y4,May10 On May, 10,20Y4, Gruden Bancorp Inc. purchased trading securities of Carroil Inc. for $17,730. Journalize the entries to record the following: If an amount box does not require an entry, leave it blank. a. The adjusting entry for the portfolio of trading securities on December 31,20Y3. 20Y3, Dec. 31 b. The May 10,20Y4, purchase of Carroll Inc. securities. 20Y4,May10 c. The adjusting entry for the portfolio of trading securities on December 31, 20Y4. Assume that except for the purchase of Carroll Inc. securities there were no other transactions involving trading securities in 20Y4. In addition, assume that the falr value of the portfollo of trading securities on December 31,20Y4, is $77,200. 20Y4,Dec.31 d. What amount should be reported for trading investments on the December 31,20 y, balance sheet? Journal entries for trading investments Gruden Bancorp Inc. purchased a portfolio of trading securities during 20y3, its first year of operations. The cost and falr value of this portfollo on December 31,20Y3, are as follows: On May 10, 20Y4, Gruden Bancorp Inc, purchased trading securities of Carroll Inc. for $17,730. Joumalize the entries to record the following: If an amount box does not require an entry, leave it blank. a. The adjusting entry for the portfolio of trading securities on December 31,20Y3. b. The May 10,20Y4, purchase of Carroll Inc. securitles. 20Y4,May10 On May, 10,20Y4, Gruden Bancorp Inc. purchased trading securities of Carroil Inc. for $17,730. Journalize the entries to record the following: If an amount box does not require an entry, leave it blank. a. The adjusting entry for the portfolio of trading securities on December 31,20Y3. 20Y3, Dec. 31 b. The May 10,20Y4, purchase of Carroll Inc. securities. 20Y4,May10 c. The adjusting entry for the portfolio of trading securities on December 31, 20Y4. Assume that except for the purchase of Carroll Inc. securities there were no other transactions involving trading securities in 20Y4. In addition, assume that the falr value of the portfollo of trading securities on December 31,20Y4, is $77,200. 20Y4,Dec.31 d. What amount should be reported for trading investments on the December 31,20 y, balance sheet Step by Step Solution
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