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Current Attempt in Progress During 2024, Golden Financial Corporation had the following trading investment transactions: Jan. 5 Purchased 435 FBC common shares for $95 per share. Purchased 500 DSR common shares for $60,000. Purchased 6% TMR bonds at face value, for $80,700. Golden will receive interest from these bonds semi-an Feb. 1 and Aug. 1. Received a cash dividend of $1 per share on the DSR common shares. Received the semi-annual interest on the TMR bonds. Jan. 15 Feb. 1 Jun. Aug. Aug 1 1 1 Sold the TMR Bonds for $78,670. Sold 48 FBC common shares at $89 per share. DSR declared a dividend of $2.50 per share. payable on January 30 next year. Dec 31 The market prices of the FBC and DSR common shares were $85 and $125 per share, respectively. Dec 1 Dec 30

Current Attempt in Progress During 2024, Golden Financial Corporation had the following trading investment transactions: Jan. 5 Purchased 435 FBC common shares for $95 per share. Purchased 500 DSR common shares for $60,000. Purchased 6% TMR bonds at face value, for $80,700. Golden will receive interest from these bonds semi-an Feb. 1 and Aug. 1. Received a cash dividend of $1 per share on the DSR common shares. Received the semi-annual interest on the TMR bonds. Jan. 15 Feb. 1 Jun. Aug. Aug 1 1 1 Sold the TMR Bonds for $78,670. Sold 48 FBC common shares at $89 per share. DSR declared a dividend of $2.50 per share. payable on January 30 next year. Dec 31 The market prices of the FBC and DSR common shares were $85 and $125 per share, respectively. Dec 1 Dec 30

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Show Attempt History Current Attempt in Progress During 2024, Golden Financial Corporation had the following trading investment transactions: Jan. 5 Purchased 435 FBC common shares for $95 per share. Jan. 15 Purchased 500 DSR common shares for $60,000. Feb. Jun. Aug 1 1 Aug Dec 1 Purchased 6% TMR bonds at face value, for $80,700. Golden will receive interest from these bonds semi-annu Feb. 1 and Aug. 1. 1 Sold the TMR Bonds for $78.670. Sold 48 FBC common shares at $89 per share. Dec. 30 DSR declared a dividend of $2.50 per share. payable on January 30 next year. Dec 31 The market prices of the FBC and DSR common shares were $85 and $125 per share, respectively. Received a cash dividend of $1 per share on the DSR common shares. Received the semi-annual interest on the TMR bonds.
Transcribed Image Text:Show Attempt History Current Attempt in Progress During 2024, Golden Financial Corporation had the following trading investment transactions: Jan. 5 Purchased 435 FBC common shares for $95 per share. Jan. 15 Purchased 500 DSR common shares for $60,000. Feb. Jun. Aug 1 1 Aug Dec 1 Purchased 6% TMR bonds at face value, for $80,700. Golden will receive interest from these bonds semi-annu Feb. 1 and Aug. 1. 1 Sold the TMR Bonds for $78.670. Sold 48 FBC common shares at $89 per share. Dec. 30 DSR declared a dividend of $2.50 per share. payable on January 30 next year. Dec 31 The market prices of the FBC and DSR common shares were $85 and $125 per share, respectively. Received a cash dividend of $1 per share on the DSR common shares. Received the semi-annual interest on the TMR bonds.
(a) Your answer is partially correct. Record the above transactions, including any required adjusting entries, using the fair value through profit or loss model. (List all debit entries before credit entries. 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 O for the amounts. Record journal entries in the order presented in the problem.) Date Jan. 5 Account Titles and Explanation Trading Investments Cash Debit 41325 Credit 4132
Transcribed Image Text:(a) Your answer is partially correct. Record the above transactions, including any required adjusting entries, using the fair value through profit or loss model. (List all debit entries before credit entries. 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 O for the amounts. Record journal entries in the order presented in the problem.) Date Jan. 5 Account Titles and Explanation Trading Investments Cash Debit 41325 Credit 4132
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