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Question Please help

by | Nov 30, 2023 | questions

Ryder Company, which began operations in 2011, invests its idle cash in trading securities. The following transactions are from its
short-term investments in its trading securities.

2011
Jan. 20 Purchased 1,000 shares of Ford Motor Co. at $26 per share plus a $125 commission.
Feb. 9 Purchased 2,700 shares of Lucent at $37 per share plus a $200 commission.
Oct. 12 Purchased 700 shares of Z-Seven at $7.60 per share plus a $95 commission.

2012
Apr. 15 Sold 1,000 shares of Ford Motor Co. at $31 per share less a $295 commission.
July 5 Sold 700 shares of Z-Seven at $10.50 per share less a $100 commission.
July 22 Purchased 1,800 shares of Hunt Corp. at $31 per share plus a $225 commission.
Aug. 19 Purchased 1,800 shares of Donna Karan at $13 per share plus a $105 commission.
2013
Feb. 27 Purchased 3,800 shares of HCA at $34 per share plus a $440 commission.
Mar. 3 Sold 1,800 shares of Hunt at $26 per share less a $130 commission.
June 21 Sold 2,700 shares of Lucent at $34.75 per share less a $42 commission.
June 30 Purchased 1,400 shares of Black & Decker at $47.50 per share plus a $595 commission.
Nov. 1 Sold 1,800 shares of Donna Karan at $23.00 per share less a $124 commission.
1.

Prepare journal entries to record these short-term investment activities for the years shown. (Ignore any year-end adjusting
entries.) (Input all amounts as positive values. Omit the “$” sign in your response.)

Date General Journal Debit Credit
Jan. 20, 2011 (Click to select)Short-term investments-trading (Lucent)Gain on sale of short-term investmentsShort-term investments-trading
(Hunt)Short-term investments-trading (Z-Seven)Fair value adjustment-tradingShort-term investments-trading (Ford)Loss on sale of
short-term investmentsCash
(Click to select)Short-term investments-trading (Lucent)Short-term investments-trading (Hunt)Short-term investments-trading
(Z-Seven)Short-term investments-trading (Ford)Fair value adjustment-tradingCashGain on sale of short-term investmentsLoss on sale of
short-term investments
Feb. 9, 2011 (Click to select)Fair value adjustment-tradingCashLoss on sale of short-term investmentsGain on sale of short-term
investmentsShort-term investments-trading (Ford)Short-term investments-trading (Z-Seven)Short-term investments-trading (Hunt)Short-term
investments-trading (Lucent)
(Click to select)CashShort-term investments-trading (Ford)Short-term investments-trading (Lucent)Fair value
adjustment-tradingShort-term investments-trading (Hunt)Gain on sale of short-term investmentsLoss on sale of short-term
investmentsShort-term investments-trading (Z-Seven)
Oct. 12, 2011 (Click to select)Short-term investments-trading (Lucent)CashShort-term investments-trading (Ford)Loss on sale of short-term
investmentsShort-term investments-trading (Hunt)Fair value adjustment-tradingGain on sale of short-term investmentsShort-term
investments-trading (Z-Seven)
(Click to select)Gain on sale of short-term investmentsCashShort-term investments-trading (Ford)Short-term investments-trading
(Z-Seven)Fair value adjustment-tradingShort-term investments-trading (Hunt)Short-term investments-trading (Lucent)Loss on sale of
short-term investments
Apr. 15, 2012 (Click to select)Short-term investments-trading (Ford)Short-term investments-trading (D.Karan)Gain on sale of short-term
investmentsCashLoss on sale of short-term investmentsShort-term investments-trading (Z-Seven)Short-term investments-trading
(Lucent)Short-term investments-trading (Hunt)
(Click to select)Short-term investments-trading (D.Karan)CashLoss on sale of short-term investmentsShort-term investments-trading
(Hunt)Short-term investments-trading (Lucent)Gain on sale of short-term investmentsShort-term investments-trading (Z-Seven)Short-term
investments-trading (Ford)
(Click to select)Short-term investments-trading (Ford)CashGain on sale of short-term investmentsShort-term investments-trading
(D.Karan)Loss on sale of short-term investmentsShort-term investments-trading (Z-Seven)Short-term investments-trading (Hunt)Short-term
investments-trading (Lucent)
July 5, 2012 (Click to select)Short-term investments-trading (Lucent)Short-term investments-trading (D.Karan)CashGain on sale of short-term
investmentsShort-term investments-trading (Z-Seven)Short-term investments-trading (Ford)Short-term investments-trading (Hunt)Loss on
sale of short-term investments
(Click to select)Short-term investments-trading (Z-Seven)Loss on sale of short-term investmentsShort-term investments-trading
(D.Karan)Gain on sale of short-term investmentsShort-term investments-trading (Lucent)Short-term investments-trading
(Ford)CashShort-term investments-trading (Hunt)
(Click to select)Short-term investments-trading (Hunt)Short-term investments-trading (Z-Seven)Short-term investments-trading
(Ford)CashLoss on sale of short-term investmentsShort-term investments-trading (Lucent)Gain on sale of short-term investmentsShort-term
investments-trading (D.Karan)
July 22, 2012 (Click to select)Short-term investments-trading (Hunt)Short-term investments-trading (D.Karan)Short-term investments-trading
(Lucent)Short-term investments-trading (Ford)Loss on sale of short-term investmentsCashShort-term investments-trading (Z-Seven)Gain on
sale of short-term investments
(Click to select)Gain on sale of short-term investmentsShort-term investments-trading (Ford)Short-term investments-trading
(D.Karan)Short-term investments-trading (Lucent)CashLoss on sale of short-term investmentsShort-term investments-trading
(Z-Seven)Short-term investments-trading (Hunt)
Aug. 19, 2012 (Click to select)Short-term investments-trading (D.Karan)Loss on sale of short-term investmentsShort-term investments-trading
(Lucent)Short-term investments-trading (Hunt)Short-term investments-trading (Ford)Short-term investments-trading (Z-Seven)Gain on sale
of short-term investmentsCash
(Click to select)Short-term investments-trading (Lucent)Gain on sale of short-term investmentsShort-term investments-trading
(D.Karan)Short-term investments-trading (Z-Seven)Short-term investments-trading (Hunt)Loss on sale of short-term investmentsShort-term
investments-trading (Ford)Cash
Feb. 27, 2013 (Click to select)Short-term investments-trading (Ford)Loss on sale of short-term investmentsShort-term investments-trading
(HCA)CashGain on sale of short-term investmentsShort-term investments-trading (Hunt)Short-term investments-trading (D.Karan)Short-term
investments-trading (B&D)
(Click to select)Short-term investments-trading (Ford)Short-term investments-trading (Hunt)Short-term investments-trading (B&D)Loss
on sale of short-term investmentsShort-term investments-trading (D.Karan)Short-term investments-trading (HCA)CashGain on sale of
short-term investments
Mar. 3, 2013 (Click to select)Short-term investments-trading (HCA)CashShort-term investments-trading (Ford)Short-term investments-trading
(Hunt)Short-term investments-trading (D.Karan)Loss on sale of short-term investmentsGain on sale of short-term investmentsShort-term
investments-trading (B&D)
(Click to select)Gain on sale of short-term investmentsShort-term investments-trading (B&D)Short-term investments-trading
(Ford)Short-term investments-trading (Hunt)Loss on sale of short-term investmentsShort-term investments-trading (HCA)Short-term
investments-trading (D.Karan)Cash
(Click to select)CashShort-term investments-trading (HCA)Loss on sale of short-term investmentsShort-term investments-trading
(Ford)Gain on sale of short-term investmentsShort-term investments-trading (D.Karan)Short-term investments-trading (Hunt)Short-term
investments-trading (B&D)
June 21, 2013 (Click to select)Loss on sale of short-term investmentsShort-term investments-trading (HCA)Gain on sale of short-term
investmentsShort-term investments-trading (Hunt)Short-term investments-trading (B&D)Short-term investments-trading (Ford)Short-term
investments-trading (Lucent)Cash
(Click to select)Short-term investments-trading (Ford)CashShort-term investments-trading (HCA)Short-term investments-trading
(Lucent)Loss on sale of short-term investmentsGain on sale of short-term investmentsShort-term investments-trading (Hunt)Short-term
investments-trading (B&D)
(Click to select)Gain on sale of short-term investmentsShort-term investments-trading (Hunt)Loss on sale of short-term
investmentsShort-term investments-trading (HCA)Short-term investments-trading (Z-Seven)Short-term investments-trading
(Ford)CashShort-term investments-trading (Lucent)
June 30, 2013 (Click to select)Short-term investments-trading (D.Karan)CashShort-term investments-trading (HCA)Loss on sale of short-term
investmentsShort-term investments-trading (Ford)Short-term investments-trading (Z-Seven)Short-term investments-trading (Hunt)Short-term
investments-trading (B&D)
(Click to select)Short-term investments-trading (B&D)Short-term investments-trading (Ford)Short-term investments-trading
(D.Karan)Short-term investments-trading (Hunt)Short-term investments-trading (Z-Seven)Loss on sale of short-term
investmentsCashShort-term investments-trading (HCA)
Nov. 1, 2013 (Click to select)Short-term investments-trading (Ford)CashShort-term investments-trading (D.Karan)Short-term investments-trading
(B&D)Gain on sale of short-term investmentsShort-term investments-trading (Hunt)Short-term investments-trading (HCA)Loss on sale of
short-term investments
(Click to select)Short-term investments-trading (D.Karan)Short-term investments-trading (Z-Seven)Short-term investments-trading
(B&D)Short-term investments-trading (Hunt)Gain on sale of short-term investmentsShort-term investments-trading (HCA)Short-term
investments-trading (Ford)Loss on sale of short-term investments
(Click to select)Loss on sale of short-term investmentsShort-term investments-trading (D.Karan)Short-term investments-trading
(B&D)Gain on sale of short-term investmentsShort-term investments-trading (HCA)Short-term investments-trading (Z-Seven)Short-term
investments-trading (Ford)Short-term investments-trading (Hunt)

rev: 12_07_2011

19.

2.

On December 31, 2013, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading
securities when HCA’s share price is $36 and Black & Decker’s share price is $43.5. (Assume the Fair Value Adjustment”Trading
account had an unadjusted balance of zero.)(Omit the “$” sign in your response.)

Date General Journal Debit Credit
Dec. 31, 2013 (Click to select)Short-term investments-tradingUnrealized loss-incomeUnrealized gain-incomeLoss on sale of short-term investmentsFair
value adjustment-tradingGain on sale of short-term investmentsCashLong-term investments-trading
(Click to select)Short-term investments-tradingGain on sale of short-term investmentsLoss on sale of short-term
investmentsCashUnrealized gain-incomeUnrealized loss-incomeFair value adjustment-tradingLong-term investments-trading
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