Using the Journal Provided,enter the Following Transactions for LaPana Corporation $\$ 30,000$

question 19

Essay

Using the journal provided,enter the following transactions for LaPana Corporation for 2009 and 2010.Please provide all explanations.
2009
Aug. 13 Purchased 1,000 shares of Casper Corporation stock for $\$ 30,000$ . These securities were purchased primarily for trading purposes.

Oct. 5 Purchased 4,000 shares of Tally Corporation stock for $\$ 68,000$ . These securities were purchased primarily for trading purposes.

Nov. 1 Invested $\$ 98,000$ in 120 -day U.S. Treasury bills that have a maturity value of $\$ 100,000$ .

Dec. 31 The market value of the Casper Corporation shares is $\$ 31,000$ , and the market value of the Tally Corporation stock is $\$ 63,000$ . A year-end adjustment is made.
31 A year-end adjustment is made for accrued interest on the Treasury bills.

2010
Mar. 1 Received maturity value of U.S. Treasury bills in cash.
Apr. 14 Sold all 1,000 shares of Casper Corporation stock for $\$ 30,800$ .
Sept. 22 Received dividends of $\$ 1$ per share from Tally Corporation.
Dec. 31 The market value of the Tally Corporation shares is $\$ 70,000$ . A year-end adjustment is made.

---

Definitions:

Homeowners' Policy

An insurance policy that provides coverage for damages to a person's home and assets in the home, along with liability coverage for accidents that occur within the home or on the property.

Exclusion

The act of preventing someone's participation or denying access to a group, area, or benefit.

Life Insurance Contract

An agreement in which an insurer promises to pay a designated beneficiary a sum of money upon the insured person's death, in exchange for premiums paid by the policyholder.

Insurer's Risks

The potential for financial loss that an insurance company agrees to cover under the terms of an insurance policy.