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Plz answer in this form, do not make your own form. Problem 12-3A During 2018, Ridgewood Financial Corporation had the following held for trading investment
Plz answer in this form, do not make your own form.
Problem 12-3A During 2018, Ridgewood Financial Corporation had the following held for trading investment transactions: Feb. 1 Mar. 1 Apr. 1 July 1 Aug. 1 Sept. 1 Oct. 1 1 Dec. 31 Purchased 660 CBF common shares for $38,280. Purchased 730 RSD common shares for $22,630. Purchased 6% MRT bonds at face value, for $58,000. Interest is received semi-annually on April 1 and October 1. Received a cash dividend of $3 per share on the CBF common shares. Sold 220 CBF common shares at $56 per share. Received a cash dividend of $1.60 per share on the RSD common shares. Received the semi-annual interest on the MRT bonds. Sold the MRT bonds for $59,900. The market prices of the CBF and RSD common shares were $53 and $32 per share, respectively. Ridgewood had the following held for trading investment transactions in 2019: Mar. 1 June 1 Sept. 1 Oct. 1 Dec. 31 Sold 440 CBF common shares for $25,080. Purchased 2,000 KEF common shares for $26,000. Received a cash dividend of $1.60 per share on the RSD common shares. Sold 365 RSD common shares for $12,410. The market prices of the RSD and KEF common shares were $36 and $10 per share, respectively. Record the above 2019 transactions including any required adjusting entries, continuing the use of the fair value through profit or loss model. (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. Record entries in the order presented in the question.) Date Account Titles and Explanation Debit Credit Show how the investments would be presented on the statement of financial position at December 31, 2019. RIDGEWOOD FINANCIAL CORPORATION Statement of Financial Position (Partial) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Determine the balance in each of the income statement accounts that are affected in the transactions above and indicate how they would be presented on the income stateme preceding the number e.g. -2,945 or parentheses e.g. (2,945).) RIDGEWOOD FINANCIAL CORPORATION Income Statement (Partial)Step by Step Solution
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