P17-2A - Feb.1 40,800 Apr.1 61,200 Oct.1 61,200 Mar.1...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
P17-2A a) Feb.1 Stock Investments 40,800 Cash 40,800 (To record purchase of 600 shares of IBT common stock) Mar.1 Stock Investments 15,300 Cash 15,300 (To record purchase of 500 shares of IMA common stock) Apr.1 Debt Investments 61,200 Cash 61,200 (To record purchase of 60 CRA bonds) Jul.1 Cash (600*$0.60) 360 Dividend Revenue 360 (To record receipt of cash dividend) Aug.1 Cash 20,650 Gain on Sale of Stock Investments 250 Stock Investments 20,400 (To record sale of 300 IBT common stock) Sept.1 Cash (500*$1) 500 Dividend Revenue 500 (To record receipt of cash dividend) Oct.1 Cash 3,600 Interest Revenue 3,600 (To record receipt of interest on CRE bonds) Oct.1 Cash 64,000 Debt Investments 61,200 Gain on Sale of Debt Investments 2,800 Stock Investments Debt Investments
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Feb.1 40,800 Apr.1 61,200 Oct.1 61,200 Mar.1 15,300 Aug.1 20,400 Oct.1 Bal. Aug.1 Bal. 35,700 b) Dec.31 Unrealized Loss - Income 900 Market Adjustment - Trading 900 (To record unrealized loss on trading securities) c) Ralley Company Balance Sheet (partial) December 31, 2005 Assets Current assets Short-term investments at fair value 34,800 d) Income statement accounts: 1. Unrealized loss - income ("Other expenses and losses") 2. Interest revenue ("Other revenue and gains") 3. Dividend revenue ("Other revenue and gains") 4. Gain on sale of debt investments ("Other revenue and gains") 5. Gain on sale of stock investments ("Other revenue and gains")...
View Full Document

This note was uploaded on 02/19/2010 for the course ACCT 221 taught by Professor Strauss during the Spring '07 term at Maryland.

Page1 / 2

P17-2A - Feb.1 40,800 Apr.1 61,200 Oct.1 61,200 Mar.1...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online