Question 2

During 2018, Golden Financial Corporation had the following held for trading investment transactions:

Question 2 During 2018, Golden Financial Corporation had the following held for trading investment transactions: Feb. 1 Purchased 550 CBF common shares for $35,750. Mar. 1 Purchased 850 RSD common shares for $27,200. Apr. 1 Purchased 7% MRT bonds at face value, for $60,600. Interest is received semi-annually on April 1 and October 1. July 1 Received a cash dividend of $3 per share on the CBF common shares. Aug. 1 Sold 210 CBF common shares at $63 per share. Sept. 1 Received a cash dividend of $1.60 per share on the RSD common shares. Oct. 1 Received the semi-annual interest on the MRT bonds. 1 Sold the MRT bonds for $62,400. Dec. 31 The market prices of the CBF and RSD common shares were $60 and $33 per share, respectively. (a) Your answer is partially correct. Try again. Record the above transactions, including any required adjusting entries, using the fair value through profit or loss model. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record entries in the order presented in the question. Round answers to O decimal places, e.g. 5,250. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit TFeb. 1 Theld for Trading Investments Cash 35,750 Mar. 1 | Held for Trading Investments 27,2007 Aug. 1 Cash 13230 Realized Gain on Long-Term Investments 1070 1 Held for Trading Investments 14300 Sept. 1 cash T. Dividend Revenue 1360 Yoct. 1 - Tcash 1 20371 | Interest Revenue 2037 (To record interest on the MRT bonds.) Tcash 62,400 7 Realized Gain on Held for Trading Investments T 1800 Held for Trading Investments 60,600 (To record sale of MRT bonds.) Dec. 31 |Unrealized Loss on Held for Trading Investments Held for Trading Investments