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Please see P13-2A HW attached. Thanks in advance f...

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Please see P13-2A HW attached. Thanks in advance for your help.,Print by: Dennecia Carter ACC557016VA016-1116-001 / HW Chpt 13 P13-2A In January 2008, the management of Noble Company concludes that it has sufficient cash to permit some short-term investments in debt and stock securities. During the year, the following transactions occurred. Feb. 1 Purchased 600 shares of Hiens common stock for $31,800, plus brokerage fees of $600. Mar. 1 Purchased 800 shares of Pryce common stock for $20,000, plus brokerage fees of $400. Apr. 1 Purchased 50 $1,000, 7% Roy bonds for $50,000, plus $1,000 brokerage fees. Interest is payable semiannually on April 1 and October 1. July 1 Received a cash dividend of $0.60 per share on the Hiens common stock. Aug. 1 Sold 200 shares of Hiens common stock at $58 per share less brokerage fees of $200. Sept. 1 Received a $1 per share cash dividend on the Pryce common stock. Oct. 1 Received the semiannual interest on the Roy bonds. Oct. 1 Sold the Roy bonds for $50,000 less $1,000 brokerage fees. At December 31, the fair value of the Hiens common stock was $55 per share. The fair value of the Pryce common stock was $24 per share. Journalize the transactions and post to the accounts Debt Investments and Stock Investments. (Use the T-account form.) (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2. If answer is zero, please enter 0. Do not leave any fields blank.) Date Account / Description Debit Credit Feb. 1 $ $ Mar. 1 $ $ Apr. 1 $ $ July 1 $ $ Aug. 1 $ $ $ Sept. 1 $ $ Oct. 1 $ $ Oct. 1 $ $ $ Stock Investments Debt Investments Feb.1 Aug. 1 Apr. 1 Oct. 1 Mar. 1 Dec. 31 Dec. 31 Prepare the adjusting entry at December 31, 2008, to report the investment securities at fair value. All securities are considered to be trading securities. Date Account / Description Debit Credit Dec. 31 $ $ Show the balance sheet presentation of investment securities at December 31, 2008. Balance Sheet $ Identify the classification of each account for the income statement accounts. Interest revenue Loss on sale of investments Dividend revenue Gain on sale of investments Unrealized loss-Income Unrealized gain-Income Question Attempts: 0 of 3 used Copyright ? 2000-2011 by John Wiley & Sons, Inc. or related companies. All rights reserved.,This wasn't provided: Show the balance sheet presentation of investment securities at December 31, 2008. Balance Sheet $ $ Also: Identify the classification of each account for the income statement accounts; for Dividend revenue,This was the answer: P13-2A Show the balance sheet presentation of investment securities at December 31, 2008. Balance Sheet Current assets Short term investments, at fair value $41,200

 

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