DE16-5 Dierberg Bank completed the following transactions during 20X1 and 20X2: 20X1 Dec. 6 Purchased 1,000 shares

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DE16-5 Dierberg Bank completed the following transactions during 20X1 and 20X2: 20X1 Dec. 6 Purchased 1,000 shares of Toyota stock at a price of $92.25 per share, intending to sell the investment next month. 23 31 20X2 Received a cash dividend of $1.12 per share on the Toyota stock. Adjusted the investment to its market value of $91 per share. Jan. 27 Sold the Toyota stock for $88.38 per share. 1. Classify Dierberg's investment as trading or available-for-sale. 2. Journalize Dierberg's investment transactions. Explanations are not required.

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Accounting

ISBN: 9780130906991

5th Edition

Authors: Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones

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