On January 5, 2013, Barker Limited purchased the following securities as trading investments:
300 McRae Corporation common shares for $4,200
500 Gupta Corporation common shares for $10,000
600 May Corporation common shares for $19,800
On June 30, 2013, Barker received the following cash dividends: On November 15, 2013, Barker sold 100 May Corporation common shares for $4,000.
On December 31, 2013, the market value of the securities held by Barker is as follows: Instructions
Prepare the appropriate journal entries that Barker Limited should make on the following dates: January 5, 2013; June 30, 2013; November 15, 2013; and December 31, 2013.

Question

On January 5, 2013, Barker Limited purchased the following securities as trading investments:
300 McRae Corporation common shares for $4,200
500 Gupta Corporation common shares for $10,000
600 May Corporation common shares for $19,800
On June 30, 2013, Barker received the following cash dividends:  On November 15, 2013, Barker sold 100 May Corporation common shares for $4,000.
On December 31, 2013, the market value of the securities held by Barker is as follows:  Instructions
Prepare the appropriate journal entries that Barker Limited should make on the following dates: January 5, 2013; June 30, 2013; November 15, 2013; and December 31, 2013.

Quizplus · Accepted Answer

The Answer of On January 5, 2013, Barker Limited purchased the following securities as trading investments:
300 McRae Corporation common shares for $4,200
500 Gupta Corporation common shares for $10,000
600 May Corporation common shares for $19,800
On June 30, 2013, Barker received the following cash dividends:  On November 15, 2013, Barker sold 100 May Corporation common shares for $4,000.
On December 31, 2013, the market value of the securities held by Barker is as follows:  Instructions
Prepare the appropriate journal entries that Barker Limited should make on the following dates: January 5, 2013; June 30, 2013; November 15, 2013; and December 31, 2013.

On January 5, 2013, Barker Limited Purchased the Following Securities