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In January 2022, the management of Clinton Corporation, a publicly-traded company, decides that it has sufficient cash to purchase some debt and equity securities to
In January 2022, the management of Clinton Corporation, a publicly-traded company, decides that it has sufficient cash to purchase some debt and equity securities to be held as trading investments. During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 Aug. 1 Sept. 1 Oct. 1 Oct. 1 Purchased 1,300 shares of NJF common shares for $58,500. Purchased 600 shares of SEK common shares for $22,200. Purchased 75 $1,000, 8% CRT bonds for $76,200. Interest is receivable semi-annually on April 1 and October 1. Received a cash dividend of $0.70 per share on the NJF common shares. Sold 180 shares of NJF common shares at $36.00 per share. Received $2 per share cash dividend on the SEK common shares. Received the semi-annual interest on the CRT bonds. Sold the CRT bonds for $81,110. At December 31, Clinton's fiscal year end, the fair values of the NJF and SEK common shares were $35 and $33 per share, respectively. e Your answer is partially correct. Show the statement of financial position presentation of the Trading Investments at December 31, 2022. CLINTON CORPORATION Statement of Financial Position (Partial) December 31, 2022 Current Assets Realized Loss on Trading Investments $ 13600 Save for Later Last saved 15 seconds ago. Attempts: 1 of 3 used Submit Answer Saved work will be auto-submitted on the due date. Using multiple attempts will impact your score. 20% score reduction after attempt 2
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