Record the above transactions, including any required adjusting entries, using the fair value through profit or loss model. During 2024, Primary Financial Corporation had the following trading investment transactions: Jan. 5 Purchased 400 FBC common shares for $100 per share. Jan. 15 Purchased 500 DSR common shares for $60,000. Feb. 1 Purchased 5% TMR bonds at face value, for $80,000. Primary will receive interest from these bonds semi-annually on Feb. 1 and Aug. 1. Received a cash dividend of $2 per share on the DSR common shares. Received the semi-annual interest on the TMR bonds. Sold the TMR Bonds for $78,000. Sold 50 FBC common shares at $95 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 $90 and $125 per share, respectively. Jun. 1 Aug. 1 Aug. Dec. 1 1 Dec. 30

Record the above transactions, including any required adjusting entries, using the fair value through profit or loss model. During 2024, Primary Financial Corporation had the following trading investment transactions: Jan. 5 Purchased 400 FBC common shares for $100 per share. Jan. 15 Purchased 500 DSR common shares for $60,000. Feb. 1 Purchased 5% TMR bonds at face value, for $80,000. Primary will receive interest from these bonds semi-annually on Feb. 1 and Aug. 1. Received a cash dividend of $2 per share on the DSR common shares. Received the semi-annual interest on the TMR bonds. Sold the TMR Bonds for $78,000. Sold 50 FBC common shares at $95 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 $90 and $125 per share, respectively. Jun. 1 Aug. 1 Aug. Dec. 1 1 Dec. 30

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 21P: Waseca Company had 5 convertible securities outstanding during all of 2019. It paid the appropriate...

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