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Using the Journal Provided,enter the Following Transactions for LaPana Corporation $30,000 \$ 30,000

Question 147

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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 $30,000 \$ 30,000 . These securities were purchased primarily for trading purposes.

Oct. 5 Purchased 4,000 shares of Tally Corporation stock for $68,000 \$ 68,000 . These securities were purchased primarily for trading purposes.

Nov. 1 Invested $98,000 \$ 98,000 in 120 -day U.S. Treasury bills that have a maturity value of $100,000 \$ 100,000 .

Dec. 31 The market value of the Casper Corporation shares is $31,000 \$ 31,000 , and the market value of the Tally Corporation stock is $63,000 \$ 63,000 . 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 $30,800 \$ 30,800 .
Sept. 22 Received dividends of $1 \$ 1 per share from Tally Corporation.
Dec. 31 The market value of the Tally Corporation shares is $70,000 \$ 70,000 . A year-end adjustment is made.
 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   \$ 30,000  . These securities were purchased primarily for trading purposes.  Oct. 5 Purchased 4,000 shares of Tally Corporation stock for   \$ 68,000  . These securities were purchased primarily for trading purposes.  Nov. 1 Invested   \$ 98,000   in 120 -day U.S. Treasury bills that have a maturity value of   \$ 100,000  .  Dec. 31 The market value of the Casper Corporation shares is   \$ 31,000  , and the market value of the Tally Corporation stock is   \$ 63,000  . 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   \$ 30,800  . Sept. 22 Received dividends of   \$ 1   per share from Tally Corporation. Dec. 31 The market value of the Tally Corporation shares is   \$ 70,000  . A year-end adjustment is made.

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