Insta Corp. invests in shares of other companies in 2015 for generating profit as shown below;

Market Value Dec. 31

a. Classify each investment as trading or available for sale.

DT:_______________________

EA:_______________________

b. Prepare the necessary journal entries for Insta Corp. (Hint: entries for purchase of securities, adjusting entries at Dec.31 2015 and 2016, entries for sale of securities).

Security	Purchase date	Cost	2015	2016	Date sold	Selling price
DT	June 2015	48.000TL	54.000TL	60.800TL	Feb. 2017	59.600TL
EA	June 2015	116.000TL	104.800TL		March 2016	114.000TL

Insta Corp. invests in shares of other companies in 2015 for generating profit as shown below; Market Value Dec. 31 a. Classify each investment as trading or available for sale. DT:_______________________ EA:_______________________ b. Prepare the necessary journal entries for Insta Corp. (Hint: entries for purchase of securities, adjusting entries at Dec.31 2015 and 2016, entries for sale of securities). Security Purchase date Cost 2015 2016 Date sold Selling price DT June 2015 48.000TL 54.000TL 60.800TL Feb. 2017 59.600TL EA June 2015 116.000TL 104.800TL March 2016 114.000TL