Question
Jets Bancorp Inc. purchased a portfolio of trading securities during 2016. The cost and fair value of this portfolio on December 31, 2016, was as
Jets Bancorp Inc. purchased a portfolio of trading securities during 2016. The cost and fair value of this portfolio on December 31, 2016, was as follows:
| 1 | Name | Number of Shares | Total Cost | Total Fair Value |
| 2 | Dolphins Inc. | 1,480.00 | $29,600.00 | $32,560.00 |
| 3 | Marino Company | 1,230.00 | 31,980.00 | 25,830.00 |
| 4 | Namath Company | 870.00 | 31,320.00 | 28,710.00 |
| 5 | Total |
| $92,900.00 | $87,100.00 |
On May 10, 2017, Jets Bancorp Inc. purchased 980 shares of Giants Inc. at $26 per share plus a $120 brokerage commission.
Required:
| A. | Provide the journal entries to record the following (refer to the Chart of Accounts for exact wording of account titles and be sure to enter the year as part of the date):
|
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Audit Of The Drug Enforcement Administrations Controls Over Seized And Collected Drugs
Authors: Office Of Inspector General, U.S. Department Of Justice, Penny Hill Press
1st Edition
1537075683, 978-1537075686
