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I am looking for assistance with where I went wrong with Jan 31, 2019, and Feb 15, 2019, as well as the Cost on Feb
I am looking for assistance with where I went wrong with Jan 31, 2019, and Feb 15, 2019, as well as the Cost on Feb 15, 2019 at the end. Thank you.
Question 6 During the year ended December 31, 2018, and in the following months of January and February 2019, Greencastle Inc. had the following transactions pertaining to its held for trading investments: Apr. 1 Purchased 2,000 Starr Corporation $5, preferred shares for $206,000 cash. July1 Received quarterly cash dividend 2 Sold 500 Starr shares for $55,500 cash. Oct. 1 Received quarterly cash dividend Nov. 22 Starr declared the quarterly dividend on November 22, to preferred shareholders of record on December 15, payable on January 1 Dec. 31 Starr's shares were trading at $112 per share. Jan. 31 Due to an urgent need for cash, 700 Starr Corporation shares were sold despite a drop in the share price to $91 per share Feb. 15 Greencastle sold an additional 500 Starr shares after the market recovered to $114 per share. Dec. 31, 2018 # Cash 13500 13500 Unrealized Gain on Held for Trading Investments (To record unrealized gain / (loss).) Cash Jan. 31, 2019 63700 Realized Loss on Held for Trading li Cash ents 8400 Held for Trading Investments 72100 , Feb. 15, 2019 Cash 57000 Realized Gain on Held for Trading Investments 5500 Held for Trading Investments 51500 Your answer is partially correct. Try again. How many Starr shares does Greencastle own after the sale of shares on February 15, 2019? What are the cost and fair value of its investment on this date? Number of shares 300 Cost 30900 Fair Value 34200Step by Step Solution
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