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please help me with this problem. I don't know if Im starting it right. 2018 Jul . 2 Purchased 3, 500 shares of Prax, Inc

please help me with this problem. I don't know if Im starting it right.

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2018 Jul . 2 Purchased 3, 500 shares of Prax, Inc . common stock at $ 1 1. ON per share . Captain Transfer plans to sell the stock within three months , when the Company wil need the cash for normal operations. Captain Transfer does not have significant influence over Prax . Aug . 21 Received a cash dividend of $0. 50 per share on the Prax stock investment . SEP . 10 Sold the Prax stock for $ 1 4.90 per share. Oct . 1 Purchased a SolanE bond for $ 28. 00d at face value . Captain Transfer classifies the investment as trading and short- term . DEC. 31 Received a $ 1GO interest payment from Solane . 31 Adjusted the Solane band to it's market value of $33. 000Requirement 1 . Classify each of the investments made during 2018 . 1 Assume the investments represent less than 20%/ of ownership of outstanding voting stock ! Classification Reason Prax stock Trading Debt Investment Intent is to hold for less than a year . Solane bond Trading Debt Investment Intent is to hold for less than a year . Requirement 2. Journalize the 20 18 transactions . Explanations are not required . ( Record debits first , then credits . Exclude explanations from journal entries . If no entry is required , select* No entry required" on the first line of the Accounts column and leave the remaining cells blank . !)Jul . 2 . Purchased 3. 500 shares of Prax , Inc. common stock at $ 1 1. 00 per share . Captain Transfer plans to sell the stock within three months , when the company will need the cash for normal operations . Captain Transfer does 10 have significant influence over Frax` Date Accounts Debit Credit Jul . 2 Equity Investments 38.500 Cash 38. 50 0Sep . 16 : Sold the Prax stock for $ 14.90 per share . Date ACCOUNTS Debit Credit SEP. 16 Cash 52. 150 Trading Debt Investments 38.500 Gain on Disposal 13. 650Oct . 1 : Purchased a Solane band for $ 28, 000 at face value . Captain Transfer classifies the investment as trading and short-term . Date Accounts Debit Credit Oct . 1 Trading Debt Investments CashDec . 31: Received a $160 interest payment from Solane. Date Accounts and Explanation Debit Credit Dec . 31Dec . 31 : Adjusted the Solane bond to it's market value of $3.3,000. Date ACCOUNTS Debit Credit DEC. 31Requirement 3. Prepare T-accounts for the investment assets and show how to report the investments on Captain Transfer's balance sheet at December 31, 2018 . Begin by preparing T-accounts for the investment assets that are remaining at December 31 , 2018 . (Select the investment account first , then the fair value adjustment account . If no fair value account is needed , leave that T- account heading and the remaining cells blank . "Use the partial balance sheet below to show how to report the investments on Captain Transfer's balance sheet at December 31 , 2018. I'If a box is not used in the balance sheet , leave the box empty ; do not select a label or enter a ZERO .] Captain Transfer Corporation Balance Sheet ( PartiallyDECEMBER* ST. CUTE Current Assets ! Long - Term Assets : Requirement 4 . Where is the unrealized holding gain or loss associated with the trading debt investment reported ?" The unrealized holding gain (loss ) associated with the trading debt investment is included in the

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