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Blue Company has the following securities in its portfolio on December 3 1 , 2 0 2 5 . None of these investments are accounted
Blue Company has the following securities in its portfolio on December None of these investments are accounted for under the equity method.
Investments Cost Fair Value
shares of Gordon, Inc., common $ $
shares of Wallace Corp., common
shares of Martin, Inc., preferred
$ $
All of the securities were purchased in
In Blue completed the following securities transactions.
March Sold the shares of Gordon, Inc., common, @ $ less fees of $
April Bought shares of Earnhart Corp., common, @ $ plus fees of $
Blues portfolio of equity securities appeared as follows on December
Investments Cost Fair Value
shares of Wallace Corp., common $ $
shares of Earnhart Corp., common
shares of Martin, Inc., preferred
$ $
Prepare the general journal entries for Blue Company for:
a The adjusting entry.
b The sale of the Gordon stock.
c The purchase of the Earnhart stock.
d The adjusting entry for the portfolio.
List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts.
No Account Titles and Explanation Debit Credit
a enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
b enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
c enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
d enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
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