You are engaged to audit the marketabie securities of BATCH215 Company. In your inquiries, the RCBLEM...

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You are engaged to audit the marketabie securities of BATCH215 Company. In your inquiries, the RCBLEM 5(Use 6-column worksheet) accountant presented to vou the account of Investments. Date Particulars Debit Credit 2015 01/01 Begirning balance P 75,000 03/15 Purchased 2,000 shares of GRAZE common at P100 per share P2,000 for commission 200,000 04/10 Sold 50 shares of BARTOLMS Co. at P10 per share, less P15 for commission P 500 06/30 Received 50% stock dividend from BART Co. P 4,950 07/15 Received 50% stock dividend from RICH, Inc. 5,400 07/31 Sald 100 shares of Rich, Inc. at P30 each, P30 coromission P 3,000 10/01 Purchased 10 BERTOLDS Bonds at 110, plus interest accrued to date; commis:ion amounted to P110 11,500 11/15 Proceeds from sale of 200 shares of GRAZE; no commission involved 26,000 12/01 Proceeds fromI sale of 4 bonds at 105, including interest to date; commission involved amounted to P42 4,240 12/30 Sold 50 shares of BARTOLMS at P20 per share, no conmission involved 1,000 Additional information that were found helpful to your analysis are as fullows: 1) Beginning balance (agrees with your working papers last year) a. BARTOLMS CO., COMMON – 5,000 shares Þ 11,000 19,000 45,000 b. RICH, INC., COMMON - 900 shares c. YLEVOL Corp., COMMON - 15,000 shares 2) Commission were recorded as expense 3) Details of BERTOLDS Bonds: a. Face value b. Interest rate C. Irterest dates P 1,000 per bond 12% May 1 and November 1 Requirad: Prepare the following: 1) Adjusting entries - December 31,2015 2) Working papers You are engaged to audit the marketabie securities of BATCH215 Company. In your inquiries, the RCBLEM 5(Use 6-column worksheet) accountant presented to vou the account of Investments. Date Particulars Debit Credit 2015 01/01 Begirning balance P 75,000 03/15 Purchased 2,000 shares of GRAZE common at P100 per share P2,000 for commission 200,000 04/10 Sold 50 shares of BARTOLMS Co. at P10 per share, less P15 for commission P 500 06/30 Received 50% stock dividend from BART Co. P 4,950 07/15 Received 50% stock dividend from RICH, Inc. 5,400 07/31 Sald 100 shares of Rich, Inc. at P30 each, P30 coromission P 3,000 10/01 Purchased 10 BERTOLDS Bonds at 110, plus interest accrued to date; commis:ion amounted to P110 11,500 11/15 Proceeds from sale of 200 shares of GRAZE; no commission involved 26,000 12/01 Proceeds fromI sale of 4 bonds at 105, including interest to date; commission involved amounted to P42 4,240 12/30 Sold 50 shares of BARTOLMS at P20 per share, no conmission involved 1,000 Additional information that were found helpful to your analysis are as fullows: 1) Beginning balance (agrees with your working papers last year) a. BARTOLMS CO., COMMON – 5,000 shares Þ 11,000 19,000 45,000 b. RICH, INC., COMMON - 900 shares c. YLEVOL Corp., COMMON - 15,000 shares 2) Commission were recorded as expense 3) Details of BERTOLDS Bonds: a. Face value b. Interest rate C. Irterest dates P 1,000 per bond 12% May 1 and November 1 Requirad: Prepare the following: 1) Adjusting entries - December 31,2015 2) Working papers

Answer rating: 100% (QA)

Prepare journal entries Date Particulars Debit Credit 15Mar Investme... View the full answer