A 111. During 2021, Handley Financial Corporation had the following trading investment transactions:Feb. 1 Purchased 660 CBF common shares for $41,580.Mar. 1Purchased 830 RSD common shares for $27,390.Purchased 7% MRT bonds at face value, for $58,200. Handley received interest from these bonds semi-annually onApril 1 and October 1.Received a cash dividend of $3 per share on the CBF common shares.Sold 190 CBF common shares at $61 per share.Received the semi-annual interest on the MRT bonds.Sold the MRT bonds for $60,400.RSD declared a dividend of $1.60 per share, payable on January 15 next year.Dec. 31 The market prices of the CBF and RSD common shares were $58 and $34 per share, respectively.Apr. 1July1Aug 1Oct. 11Dec. 30Determine the balance in each of the statement of income accounts that is affected in the transactions above and indicate howthe accounts would be presented on the statement of income for the year ended December 31, 2021. (Round answers to Odecimal places, e.g. 5,250. Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g.(2,945).)Other Income and ExpensesDividend IncomeInterest IncomeRealized Gain on Trading InvestmentsRealized Loss on Trading InvestmentsUnrealized Loss on Trading InvestmentsDividend IncomeInterest IncomeRealized Gain on Trading InvestmentsRealized Loss on Trading InvestmentsUnrealized Loss on Trading InvestmentsHANDLEY FINANCIAL CORPORATIONStatement of Income (Partial)For the Year Ended December 31, 202100001328GOOD DO1328

Handley FINANCIAL CORPORATION Statement of Income (Partial) For the year ended Dec 31, 2021…

During 2021, Handley Financial Corporation had the following trading investment transactions: Feb. 1 Mar. 1 Apr. 1 July 1 Aug 1 Oct. 1 1 Dec. 30 Dec. 31 Purchased 660 CBF common shares for $41,580. Purchased 830 RSD common shares for $27,390. Purchased 7% MRT bonds at face value, for $58,200. Handley received interest fro April 1 and October 1. Received a cash dividend of $3 per share on the CBF common shares. Sold 190 CBF common shares at $61 per share. Received the semi-annual interest on the MRT bonds. Sold the MRT bonds for $60,400. RSD declared a dividend of $1.60 per share, payable on January 15 next year. The market prices of the CBF and RSD common shares were $58 and $34 per share

During 2021, Handley Financial Corporation had the following trading investment transactions: Feb. 1 Mar. 1 Apr. 1 July 1 Aug 1 Oct. 1 1 Dec. 30 Dec. 31 Purchased 660 CBF common shares for $41,580. Purchased 830 RSD common shares for $27,390. Purchased 7% MRT bonds at face value, for $58,200. Handley received interest fro April 1 and October 1. Received a cash dividend of $3 per share on the CBF common shares. Sold 190 CBF common shares at $61 per share. Received the semi-annual interest on the MRT bonds. Sold the MRT bonds for $60,400. RSD declared a dividend of $1.60 per share, payable on January 15 next year. The market prices of the CBF and RSD common shares were $58 and $34 per share

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 26P

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