Chapter 1 Problem 12-6
2008
July 1 Trading securities 2,200,000
Commission expense 50,000
Interest income (2,000,000 x 4%) 80,000
Cash 2,330,000
Dec. 31 Unrealized loss – TS 300,000
Trading securities 300,000
Market value (2,000,000 x 95) 1,900,000
Carrying amount 2,200,000
Unrealized loss 300,000
31 Cash (2,000,000) x 8%) 160,000
Interest income 160,000
2009
March 31 Cash 2,140,000
Trading securities 1,900,000
Gain on sale of TS 200,000
Interest income (2,000,000 x 8%) x 3/12) 40,000
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