Question
In January 2022, the management of Roger Corporation, a publicly-traded company, decides that it has sufficient cash to purchase some debt and equity securities
In January 2022, the management of Roger 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 1,400 shares of NJF common shares for $54,600. Mar. 1 Purchased 400 shares of SEK common shares for $14,800. Apr. 1 Purchased 73 $1,000,8% CRT bonds for $74,300. 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 $36.00 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 $79,570. At December 31, Roger's fiscal year end, the fair values of the NJF and SEK common shares were $35 and $27 per share, respectively.
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