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Oriol a Corporation made the following cash purchases of securities during 2020 , which is the first year in which Oriole invested in securitis. 1.
Oriol a Corporation made the following cash purchases of securities during 2020 , which is the first year in which Oriole invested in securitis. 1. On January 15 , purchased 10,600 sharss of Sanchaz Company's common stock at $33.50 per share plus commission $2,104. 2. On April 1, purchased 5,300 shares of Vicario Co's common stockat $52 par share plus commission $3,567. 3. On September 10, purchased 7,420 shares of WTA. Co.'s preferrad stock at $26.50 per share plus commission $5,202. On May 20, 2020, Oriole sald 4,029 shares of Sanchez Company's common stock at a markat prica af $35 per shars lass brokarage commissions, taves, and fass of $4,081. The year-and fair values per share werz Sanchaz $30, Vicario $55, and WTA $29. In addition, the chief accountant of Oriale told you that the corporation plans to hold these securities for the long-tarm but may sell tham in order to earn profits from appraciation in prices. The aquity mathod of accounting is nat appropriate for these stock purchases. (a) Prepare the journal entries to recard the above thres security purchases. (Round answers to 0 decimal places, es. 2,500. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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