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  3. during 2026, carleton company had the following tr

During 2026, Carleton Company had the following transactions relating to its investments held for trading:...

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Accounting

During 2026, Carleton Company had the following transactions relating to its investments held for trading: Feb 1 Purchased 1,100 common shares of Kanata Corp for \\$13 each. May 20 Purchased 3,000 shares of Orleans Corp for \\(\\$ 27\\) each. Jul 1 Received dividends totalling \\(\\$ 3,300\\) from Kanata Corp. Sep10 Sold 1,000 shares of the investment in Orleans Corp for \\(\\$ 23\\) per share. Nov 30 Sold 800 shares Orleans Corp for \\(\\$ 30\\) per share. On December 31, Carleton's year end, the Kanata Corp shares are trading at \\(\\$ 12\\) and the Orleans Corp shares are trading at \\$31. Instructions a) Record the transactions and prepare any adjusting entries required at December 31,2026. b) Determine the amounts to be reported on Carleton's balance sheet and income statement at December 31,2026 related to its investment in equity securities.

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