Robenhood brokerage is a merchandiser in sale and purchase of shares. The following are the transactions...

 

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Robenhood brokerage is a merchandiser in sale and purchase of shares. The following are the transactions in the month of April 2021. April 2 April 3 April 4 April 5 April 6 April 9 April 10 Bought 300 Magna International shares for $110 each share amounting to $33,000. April 11 April 12 Purchased Home Depot 100 shares at $300 per shares. Sold 50 Home Depot shares for $320 per share. Cost of these 50 shares sold is $15,000,. Received $ 5,000 from Canada Revenmue Agency under wage subsidy program. Bought groceries worth $300 from Longo's for Zoom birthday party. Please post this entry as withdrawals. Invested balance of Canada Recovery Benefit of $4,700 in Air Canada shares buying of 200 shares @23.50 per share. Sold 200 Air Canada shares for $30 each share amounting to $6,000. Cost of shares purchased is at S1,700. Paid office rent of $500. Received rent subsidy of $350 from Cunada Revenue Agency. Requirements 1 Record the Journal Entries. 2 Calculate the profit made from sale of Home Depot and Air Canada shares. Robenhood brokerage is a merchandiser in sale and purchase of shares. The following are the transactions in the month of April 2021. April 2 April 3 April 4 April 5 April 6 April 9 April 10 Bought 300 Magna International shares for $110 each share amounting to $33,000. April 11 April 12 Purchased Home Depot 100 shares at $300 per shares. Sold 50 Home Depot shares for $320 per share. Cost of these 50 shares sold is $15,000,. Received $ 5,000 from Canada Revenmue Agency under wage subsidy program. Bought groceries worth $300 from Longo's for Zoom birthday party. Please post this entry as withdrawals. Invested balance of Canada Recovery Benefit of $4,700 in Air Canada shares buying of 200 shares @23.50 per share. Sold 200 Air Canada shares for $30 each share amounting to $6,000. Cost of shares purchased is at S1,700. Paid office rent of $500. Received rent subsidy of $350 from Cunada Revenue Agency. Requirements 1 Record the Journal Entries. 2 Calculate the profit made from sale of Home Depot and Air Canada shares.

Answer rating: 100% (QA)

Solution 1 Journals Date Particulars Ledger Folio Amount Amount DR CR Apr02 Purchase ac ... View the full answer