Question
Here is info needed to complete journal entries and t-accounts, balance sheets etc. 6/2 purchased 3,500 shares of Apple common stock at $14 a share.
Here is info needed to complete journal entries and t-accounts, balance sheets etc.
6/2 purchased 3,500 shares of Apple common stock at $14 a share. The company holds the stock in its active trading account and plans to sell the stock within 3 months, when the company will need the cash for normal operations.
8/1 received cash dividend of $.30 per share on Apple stock investment
9/20 sold stock for $14.20 per share
I am thinking these are trading debt investments, short term instead of AFS. Is this correct? Need to see journal entries, and t account example
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