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Exercise 2 out of 8: Marketable Securities (18 points) On January 1st, Deirlis Co. purchased with cash 6000 shares from Footlocker and paid $65 per
Exercise 2 out of 8: Marketable Securities (18 points) On January 1st, Deirlis Co. purchased with cash 6000 shares from Footlocker and paid $65 per share together with a commission of $500. On the same day Deirliss Co. purchases with cash 3500 shares from The Gap and paid $20 per share plus a commission of $200. One month later Footlocker distributed dividends of $0.5 per share. On 3rd of March Deirlis Co. decided to sell 2500 shares from The Gap with the market price of $21 and paid a commission of $150. On 31 st of December the market value of Footlocker share is $60 per share and the market value of The Gap is $30 per share. Show all the calculations and Prepare the journal entries for: a. January 1st Date Account Debit Credit b. February 1st Date Account Debit Credit c. March 3rd Date Account Debit Credit d. December 31st Date Account Debit Credit
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