This is 1 sinkge question
3 Riverbed Corporation, a Canadian-based international company that follows IFRS, has the following securities in its portfolio of investments acquired for trading purposes and accounted for using the FV-NI method on December 31, 2019: Investments 1,300 shares of David Jones Inc., common 5,100 shares of Hearn Corp., common 420 shares of Alessandro Inc., preferred Carrying Amount (before adjustment) Fair Value $67,300 $63,000 153,000 147,000 67,200 69,300 $287,500 $279,300 - 2020, Riverbed completed the following securities transactions: Mar. 1 Sold the 1,300 shares of David Jones Inc. common at $43 per share, less fees of $500. pr. 1 Bought 800 shares of Oberto Ltd. common at $74 per share, plus fees of $1,000. i sortfolio of tradina cecurition annearadarfalleur on December 21 non. 1 Mar. 1 Sold the 1,300 shares of David Jones Inc. common at $43 per share, less fees of $500. Apr. 1 Bought 800 shares of Oberto Ltd. common at $74 per share, plus fees of $1,000. Riverbed Corporation's portfolio of trading securities appeared as follows on December 31, 2020: Investments 5,100 shares of Hearn Corp., common 800 shares of Oberto Ltd., common 420 shares of Alessandro Inc., preferred Carrying Amount (before adjustment) Fair Value $153,000 $147,000 59,200 57,100 67,200 64,500 $279,400 $268,600 ume that the company does not recognize and report dividends and other components of stment gains and losses separately. Assume that the company does not recognize and report dividends and other components of investment gains and losses separately. 26 27 Instructions 28 a. Prepare the Riverbed Corporation general journal entry to record the adjusting entry for December 31, 2019. (2 marks) Date Accounts and Explanations Debit Credit 29 30 31 32 3 4 5 5. 7 41 42 43 44 b. Prepare the Riverbed Corporation general journal entry to record the sale of the David Jones Inc. shares. (2 marks) Date Accounts and Explanations Debit Credit 45 46 47 48 49 50 51 52 3 4 c. Prepare the Riverbed Corporation general journal entry to record the purchase of the Oberto itd shares. (2 marks) Debit Credit 5 51 52 53 54 55 c. Prepare the Riverbed Corporation general journal entry to record the purchase of the Oberto Ltd. shares. (2 marks) Date Accounts and Explanations Debit Credit 56 57 58 59 60 61 62 63 64 65 66 mal ontou to record the adjusting entry for 63 64 65 66 67 d. Prepare the Riverbed Corporation general journal entry to record the adjusting entry for December 31, 2020. (2 marks) Date Accounts and Explanations Debit Credit 68 69 70 71 2 13 4 5 6 7 al file as vau go, Click SAVE now. 3 Riverbed Corporation, a Canadian-based international company that follows IFRS, has the following securities in its portfolio of investments acquired for trading purposes and accounted for using the FV-NI method on December 31, 2019: Investments 1,300 shares of David Jones Inc., common 5,100 shares of Hearn Corp., common 420 shares of Alessandro Inc., preferred Carrying Amount (before adjustment) Fair Value $67,300 $63,000 153,000 147,000 67,200 69,300 $287,500 $279,300 72020, Riverbed completed the following securities transactions: Mar 1 Sold the 1,300 shares of David Jones Inc. common at $43 per share, less fees of $500. 05+07Anarcha hur foor of 1 non 200 $287 500 69,500 $279,300 in 2020, Riverbed completed the following securities transactions: Mar. 1 Sold the 1,300 shares of David Jones Inc. common at $43 per share, less fees of $500. Apr. 1 Bought 800 shares of Oberto Ltd. common at $74 per share, plus fees of $1,000. Riverbed Corporation's portfolio of trading securities appeared as follows on December 31, 2020: Investments 5,100 shares of Hearn Corp., common 800 shares of Oberto Ltd., common 420 shares of Alessandro Inc., preferred Carrying Amount (before adjustment) $153,000 59,200 67,200 $279,400 Fair Value $147,000 57,100 64,500 $268,600 24 25 Assume that the company does not recognize and report dividends and other components of investment gains and losses separately. 26 27 Instructions 8 a. Prepare the Riverbed Corporation general journal entry to record the adjusting entry for December 31, 2019. (2 marks) Date Accounts and Explanations Debit Credit 2019 31 Dec Unrealized holding gain/loss 8200 Security FV adjustment 8200 8200 43 44 b. Prepare the Riverbed Corporation general journal entry to record the sale of the David Jones Inc. shares. (2 marks) Date Accounts and Explanations Debit Credit 45 46 47 48 49 50 51 52 53 54 s c. Prepare the Riverbed Corporation general journal entry to record the purchase of the Oberto 06 New 53 54 55 c. Prepare the Riverbed Corporation general journal entry to record the purchase of the Oberto Ltd. shares. (2 marks) Date Accounts and Explanations Debit Credit 56 57 58 59 60 61 52 53 4 5 5 d. Prepare the Riverbed Corporation general journal entry to record the adjusting entry for 65 66 67 d. Prepare the Riverbed Corporation general journal entry to record the adjusting entry for December 31, 2020. (2 marks) Date Accounts and Explanations Debit Credit 68 69 70 71 72 73 24 5 5. 2 Save your excel file as you go. Click SAVE now. Q6 New
