Exchanged all of the securities for shares of preferred stock, which were not mandatorily redeemable. Market values at the date of the exchange were for the securities and per share for the preferred stock. The shares were retired immediately. What journal entries should record in connection with this transaction?

The full question is as follows "The following accounts were among those reported on Good Corp.'s balance sheet at December 31, year 1: Available-for-sale securities (market value $140,000) $80,000 Preferred stock, $20 par value, 20,000 shares issued and outstanding 400,000 Additional paid-in capital on preferred stock 30,000 Retained earnings 900,000 On January 20, year 2, Good exchanged all of the available-for-sale securities for 5,000 shares of Good's preferred stock. Market values at the date of the exchange were $150,000 for the available-for-sale securities and $30 per share for the preferred stock. The 5,000 shares of preferred stock were retired immediately after the exchange. Prepare the general journal entry, without explanation, to record this event."

Date    General Journal Entry                                  Debit             Credit

            Preferred stock A/c                                   $100,000

             (5000*$20)          

            Add. paid-in capital on preferred stock   $7,500

             (30000 * 1/ 4)          

            Retained earnings                                     $42,500

                  Trading securities A/c                                               $140,000

                  Gain on exchange of securities                                $10,000

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.