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Joumalize the entries to record the following selected equity investment transactions for Instrument, Inc. Journal entry descriptions are not required. You MUST use the
Joumalize the entries to record the following selected equity investment transactions for Instrument, Inc. Journal entry descriptions are not required. You MUST use the accounts outlined in the Chapter 15 narrated PowerPoint presentations - the accounts in your textbook aren't descriptive enough. ALL calculations must be shown in parentheses or footnotes or you will receive 50% credit. Date 4/1/20Y1 Transaction Description Purchased 4,800 shares of the 60,000 outstanding shares of Fix Company for $36 per share plus a $480 brokerage commission. 12/31/20Y1 Marked the equity investments to a market value of $39 per share. The equity investments are classified as trading investments. 7/15/20Y2 Sold 2,200 shares of Fix Company stock for $42 per share less a $200 brokerage commission. 9/30/20Y2 Received a dividend of $2.60 per share from Fix Company. 12/31/20Y2 Marked the equity investments to a market value of $37 per share.
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