Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

only use the entries given in 3rd pic for all the jornal entries. dont make your own entries Question 5 of 7 -/1 E View

only use the entries given in 3rd pic for all the jornal entries. dont make your own entries
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Question 5 of 7 -/1 E View Policies Current Attempt in Progress Following is information for Blue Lte's investments held for trading Blue is a public company and has a December and 2021 Sept. 28 Oct 1 Purchased 4,300 shares of Cygman Limited for $38 per share Purchased $366,000 of Rauk Inc. 49 bonds at face value. The bonds pay interest semi-annually on April 1 and October 1 Sold 2,300 Cygman shares for $40 per share Received $1.50 per share dividend from Cygman. Cyeman shares were trading at $36 per share and the Rauk bonds were trading at 101. Nov. 12 Dec 1 31 2022 Mar 31 Apr. 1 Sold the remaining Cygman shares for 538 per share. Received interest on the Rauk bonds. Received interest on the Rauk bonds. Rauk bonds were treding at 102. Oct. 1 Dec 31 Record the above transactions, including any requires adjusting entries for 2021 and 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required select "No Entry for the account titles and enter for the amounts) 2021 QUELLIUMS OF - 71 lli Date Account Titles and Explanation Debit Credit Seot 28 levem EFVTPL 163400 163400 To record purchase of investment) Octs V Investment FVTPL v $366.000 Com V 3365.000 To record purchase of investment N2 V Car love income or on > To acordatment 2022 Date Account Titles and Explanation Debit v > V Tarucord sale of investment

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sound Investing, Chapter 7 - Cash Versus Accrual

Authors: Kate Mooney

1st Edition

0071719296, 9780071719292

More Books

Students also viewed these Accounting questions

Question

Focus on the root causes of environmental dilemmas.

Answered: 1 week ago

Question

What are the assumptions required of a multiple regression model?

Answered: 1 week ago

Question

What is a key public for this product/service/concept?

Answered: 1 week ago