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In January 2022, the management of Elkhardt 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 Elkhardt 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 | Purchased 1,100 shares of NJF common shares for $49,500. | |
Mar. 1 | Purchased 400 shares of SEK common shares for $17,600. | |
Apr. 1 | Purchased 72 $1,000, 8% CRT bonds for $73,300. Interest is receivable semi-annually on April 1 and October 1. | |
July 1 | Received a cash dividend of $0.60 per share on the NJF common shares. | |
Aug. 1 | Sold 180 shares of NJF common shares at $43.00 per share. | |
Sept. 1 | Received $2 per share cash dividend on the SEK common shares. | |
Oct. 1 | Received the semi-annual interest on the CRT bonds. | |
Oct. 1 | Sold the CRT bonds for $77,640. |
At December 31, Elkhardts fiscal year end, the fair values of the NJF and SEK common shares were $42 and $31 per share, respectively.
Show the statement of financial position presentation of the Trading Investments at December 31, 2022.
(b) Show the statement of financial position presentation of the Trading Investments at December 31, 2022. ELKHARDT CORPORATION Statement of Financial Position (Partial) For the Year Ended December 31, 2022 Current Assets Attempts: 0 of 2 used Submit Answer Save for Later millatim O ASUS VivoBook ac 03 22 End/Fin El the O 163 Fone/telu 17 180/ X A & SK 4 5 6 7 8 9 0 2 124 12 1/A C N R . Y Un U 1 o P 9 $ LA ar D F G I J K K L ; > C V B Z M M 1 - Alt Car Ctrl E
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