Using the journal provided,enter the following transactions for LaPana Corporation for 2009 and 2010.Please provide all explanations.
2009
Aug. 13 Purchased 1,000 shares of Casper Corporation stock for . These securities were purchased primarily for trading purposes.
Oct. 5 Purchased 4,000 shares of Tally Corporation stock for . These securities were purchased primarily for trading purposes.
Nov. 1 Invested in 120 -day U.S. Treasury bills that have a maturity value of .
Dec. 31 The market value of the Casper Corporation shares is , and the market value of the Tally Corporation stock is . A year-end adjustment is made.
31 A year-end adjustment is made for accrued interest on the Treasury bills.
2010
Mar. 1 Received maturity value of U.S. Treasury bills in cash.
Apr. 14 Sold all 1,000 shares of Casper Corporation stock for .
Sept. 22 Received dividends of per share from Tally Corporation.
Dec. 31 The market value of the Tally Corporation shares is . A year-end adjustment is made.
Correct Answer:
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