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Please record the transactions and re-evaluations (on T accounts or Journal Entries), prepare the profit...

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Accounting

Please record the transactions and re-evaluations (on T accounts or Journal Entries), prepare the profit and loss statement, and create the ending balance sheet. Thank you!

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In the opening balance prepared as at 01.11.200X the company BATU has the following finarcial assets: long term investments 20,000(400 shares of A), short term investments 6,000 ( 300 shares of B). During November the company bought: - 200 shares of C for 60 each, where half is a long term investment; other shares are held for resale. - 100 shares of D for 30 each, all as a short term investment. Stock broker's commissions 200. and sold: - 100 shares of B for 22 each; - 20 shares of C for 70 each. Accounting policy: short term investments are valued at the lower of cost of purchase or market value; long term investments are valued at cost of purchase less impairment losses. Required: Prepare the profit and loss statement and the balance sheet valuation of company's securities knowing that, on 31.12.200X the market value of shares was as follows: - Shares of A - for more than 3 months 40 per share, - Shares of B - 23 per share, - Shares of C65 per share, - Shares of D - 19 per share. Ignore income tax

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