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PLEASE ANSWER FULLY AND CORRECT ANY MISTAKES THAT I HAVE MADE In January 2022, the management of Accustart Corporation, a publicly-traded company, decides that it
PLEASE ANSWER FULLY AND CORRECT ANY MISTAKES THAT I HAVE MADE
In January 2022, the management of Accustart 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 Purchased 1,100 shares of NJF common shares for $46,200. Purchased 600 shares of SEK common shares for $22,200. Purchased 76 $1,000, 7% CRT bonds for $77,100. Interest is receivable semi-annually on April 1 and October 1. Received a cash dividend of $0.60 per share on the NJF common shares. Sold 220 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 $81,660. Oct. 1 At December 31, Accustart's fiscal year end, the fair values of the NJF and SEK common shares were $35 and $32 per share, respectively. Date Debit Credit Account Titles and Explanation Trading Investments Feb. 1 46,200. Cash Mar. 1 > Trading Investments 22,200. Cash 2Step by Step Solution
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