P12-41 Hanh - P.12-41 1 $38 per share Historical cost of...

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P.12-41 1. Dec 31, 2007 : $38 per share Historical cost of 12,000 shares at 41$ per shares ............................... $492,000 Balance in market value ....................................................................... $(36,000) Market value of 12,000 shares at $38 per shares ................................. $456,000 Unrealized loss on trading securitites-income ................ $36,000 Market adjustment-Trading securities ........................................ $36,000 (Record the market adjustment for trading security) Sep 4, 2008: Cash ............................................................................. $96,600 Investment in trading securities .......................... $86,100 Realized gain on sale of trading securities .................................. $10,500 (Sold 2,100 shares at $ 46 per shares) Dec 31, 2008 : 9900 shares remain (12,000- 2,100 shares ) Historical cost of 9900 shares at $41 per shares ................................... $405,900 Balance market adjustment ..................................................................... $79,200 Market value of 9900 shares at $49 per shares ..................................... $485,100 Market adjustment for trading securities ...................... $115,200 Unrealized gain on trading securities-income ..........................
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