Fox Company made the following transactions in the common stock of NOP Company: July 10, 2011 .............................

Question:

Fox Company made the following transactions in the of NOP Company:
July 10, 2011 ............................. Purchased 10,000 shares at $45 per share.
Sept. 29, 2012 ................................... Sold 2,000 shares for $51 per share.
Aug. 17, 2013 ................................... Sold 2,500 shares for $33 per share.
The end-of-year market prices for the shares were as follows:
December 31, 2011 ............................. $47 per share
December 31, 2012 ............................... 39 per share
December 31, 2013 ............................... 31 per share
Instructions:
Prepare the necessary entries for 2011, 2012, and 2013, assuming the NOP stock is classified as a trading security?
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...