P13.

3 GENERAL JOURNAL

A Date Account Titles Ref Dr. Cr.

Aug-01 Cash (2.000 x 0,70) 1,400
Dividend Revenue 1,400
Sep-01 Cash (2.000 x 8) 16,000
Loss on sale of share investments (18.000 - 16.000) 2,000
Share Investments (2.000 x 9) 18,000
Oct-01 Cash (800 x 33) 26,400
Share Investments (800 x 30) 24,000
Gain on sale of share investments (26.400 - 24.000) 2,400
Nov-01 Cash (1.500 x 1) 1,500
Dividend Revenue 1,500
Dec-15 Cash (1.200 x 0,70) 840
Dividend Revenue 840
Dec-31 Cash (3.000 x 1) 3,000
Dividend Revenue 3,000
 T-ACCOUNT B Non-Trading Securities, December 2020
A
Share Investments Investments Shares Cost Fair Value
Dr. Cr. Carlene Co. 1,200 36,000 38,400
135,000 18,000 Riverdale Co. 3,000 27,000 24,000
24,000 Raczynski Co. 1,500 30,000 27,000
Bal. 93.000 93,000 89,400
At December 31, the fair values per share of the ordinary shares
were Carlene Co. £32, Riverdale Co. £8, and Raczynski Co. £18

Adjusting Entries (Dec 31)

Unrealized Gain or Loss - Equity 3,600
Fair Value Adjustment - Non Trading

Closing Entries (Dec 31)

Accumulated Other Comprehensive Incom 3,600
Unrealized Gain or Loss - Equity
ember 2020 Ogallala Associates
C
Statement of Financial Position (Partial)
(1.200 x 32) December 31, 2020
(3.000 x 8) Non-Current Assets
(1.500 x 18) Long-term Investment
Investment in shares, at cost £ 93,000
of the ordinary shares Fair Value Adjustment - Non Trading -£ 3,600
nd Raczynski Co. £18 Total £ 89,400

Equity
Share Capital - Ordinary £ 1,500,000
3,600 Retained Earning £ 1,000,000
Less: Accumulated Other Comprehensive Income -£ 3,600
Total £ 2,496,400

3,600