E16.8 (LO 3) AP Following is information for Marcel Ltée's investments held for trading. Marcel is a public company and has a December 31 year end. 2024 Sept. 28 Purchased 3,500 shares of Cygman Limited for $40 per share. Oct. 1 Nov. 12 Dec. 1 Purchased $300,000 of Rauk Inc. 4% bonds at face value. The bonds pay interest semi-annually on April 1 and October 1. Sold 1,900 Cygman shares for $42 per share. Received $1.50 per share dividend from Cygman. 31 Cygman shares were trading at $38 per share and the Rauk bonds were trading at 101. 2025 Mar. 31 Sold the remaining Cygman shares for $40 per share. Apr. 1 Received interest on the Rauk bonds. Oct. 1 Received interest on the Rauk bonds. Dec. 31 Rauk bonds were trading at 102. Instructions Record the above transactions, including any required adjusting entries, for 2024 and 2025.

E16.8 (LO 3) AP Following is information for Marcel Ltée's investments held for trading. Marcel is a public company and has a December 31 year end. 2024 Sept. 28 Purchased 3,500 shares of Cygman Limited for $40 per share. Oct. 1 Nov. 12 Dec. 1 Purchased $300,000 of Rauk Inc. 4% bonds at face value. The bonds pay interest semi-annually on April 1 and October 1. Sold 1,900 Cygman shares for $42 per share. Received $1.50 per share dividend from Cygman. 31 Cygman shares were trading at $38 per share and the Rauk bonds were trading at 101. 2025 Mar. 31 Sold the remaining Cygman shares for $40 per share. Apr. 1 Received interest on the Rauk bonds. Oct. 1 Received interest on the Rauk bonds. Dec. 31 Rauk bonds were trading at 102. Instructions Record the above transactions, including any required adjusting entries, for 2024 and 2025.

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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