Journal entries to apply the market value method for short-term investments in securities. Events related to Simmons
Question:
Journal entries to apply the market value method for short-term investments in securities. Events related to Simmons Corporation's investments of temporarily excess cash appear below. The firm classifies these investments as Securities Available for Sale.
None of these three securities paid dividends. Prepare dated journal entries for the events related to these investments, assuming that the accounting period is the calendar year.
a. Acquisition of securities
b. Revaluation on December 31
c. Sale of securities
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Related Book For 
Financial Accounting An Introduction To Concepts Methods And Uses
ISBN: 9780324183511
10th Edition
Authors: Clyde P. Stickney, Roman L. Weil
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