Pick a stock from the Wall Street Journal or other database or publication. Assume that your group

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Pick a stock from the Wall Street Journal or other database or publication. Assume that your group purchases 1,000 shares of the stock as a short-term trading investment. Research the stock in Value Line, Moody's Investor Record, or other source to determine whether the company pays cash dividends and, if so, how much and at what intervals. 1. Track the stock for a period assigned by your professor. Over the specified period, keep a daily record of the price of the stock to see how well your investment has performed. Each day, search the Corporate Dividend News in the Wall Street Journal to keep a record of any dividends you've received. End the period of your analysis with a month end. such as September 30 or December 31. 2. Journalize all transactions that you have experienced, including the investment pur- chase, dividends received (both cash dividends and stock dividends), any year-end adjustment required by the accounting method that is appropriate for your investment; and the sale of your investment two ways: at a gain: and at a loss. Assume you will pre- pare financial statements on the ending date of your study. 3. Show what you will report on your company's balance sheet, income statement, and statement of cash flows as a result of your investment transactions.

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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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