record financial

holdings 2021 transcations and any tequired journal entries at dec 31,2021

P16.5A (LO 3, 5) AP During 2020, Financial Holdings, a public company, purchased equity secu- rities for trading purposes. At December 31, 2020, the securities for Financial Holdings were as follows: Market Value $13,500 24,500 Security Quantity Cost Sabo common shares 1,000 $15,000 PYK $1.50 preferred shares 2,000 24,000 Total $39,000 $38,000 The following transactions with respect to Financial Holdings' investments occurred during 2021: Jan. 15 Purchased 1,500 common shares of Hazmi for $15.00 per share. The shares are desig- nated as fair value through other comprehensive income. Mar. 20 Received dividends on the PYK preferred shares of $1.50 per share. June 15 Sold 750 of the Sabo common shares for $15.75 per share. Aug. 5 Received dividends on the Sabo common shares of $2.50 per share. Oct. 15 Received an additional 1,500 common shares of Hazmi as a result of a 2-for-1 stock split At December 31, 2021, the securities held by Financial Holdings were trading on the TSX at the following prices: Security Price Sabo common shares $16.00 PYK $1.50 preferred shares 13.75 Hazmi common shares 7.00