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Assessing Financial Statement Effects of Trading and Available-for-Sale Securities For the following transactions involving investments...

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Accounting

Assessing Financial Statement Effects of Trading and Available-for-Sale Securities For the following transactions involving investments in marketable securities, assume that: a. Investments are classified as trading.

(1) Ohlson Co. purchases 5,200 common shares of Freeman Co. at $16 cash per share.
(2) Ohlson Co. receives a cash dividend of $1.25 per common share from Freeman.
(3) Year-end market price of Freeman common stock is $17.5 per share.
(4) Ohlson Co. sells all 5,200 common shares of Freeman for $86,600 cash.
(i) prepare journal entries to record the four transactions,
(ii) post the journal entries to their respective T-accounts,
and (iii) record each of the transactions in the financial statement effects template.

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