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Oriole Corporation buys 1530 shares of Sheridan Ltd.'s common shares as a trading investment. The shares are purchased for $44 a share. At year end
Oriole Corporation buys 1530 shares of Sheridan Ltd.'s common shares as a trading investment. The shares are purchased for $44 a share. At year end the shares are trading at $50. The adjusting entry at year end is Cash Investment Income Trading Investments Unrealized Gain on Trading Investments Trading Investments Realized Gain on Trading Investments 9180 9180 9180 9180 9180 9180 k SUPP
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