Swanson Company has the following trading investment portfolio on December 31, 2010.

All of the investments were purchased in 2010. In 2011, Swanson completed the following investment transactions.
March 1 Sold the 1,500 ordinary shares of Parker, Inc., @ £45 less fees of £1,200.
April 1 Bought 700 ordinary shares of McDowell Corp., @ £75 plus fees of £1,300.
Swanson Company’s portfolio of trading investments appeared as follows on December 31, 2011.

Instructions
Prepare the general journal entries for Swanson Company for:
(a) The 2010 adjusting entry.
(b) The sale of the Parker shares.
(c) The purchase of the McDowell shares.
(d) The 2011 adjusting entry for the tradingportfolio.

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Investments (Trading) Cost Fair Value 1,500 ordinary shares of Parker, Inc. 5,000 ordinary shares of Beilman Corp 400 preference shares of Duncan, Inc. 71,500 180,000 60,000 2311,500 69,000 175,000 61,600 2305,600 Investments (Trading) 5,000 ordinary shares of Beilman Corp 700 ordinary shares of McDowell Corp. 400 preference shares of Duncan, Inc. Cost Fair Value 0,000 175,000 50,400 58,000 2283,400 52,500 60,000 £292,500