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Part A . . A company purchased 17,500 of common shares in Danis Corporation on September 1, 2015 for $17,500 plus $100 in brokerage fees.
Part A . . A company purchased 17,500 of common shares in Danis Corporation on September 1, 2015 for $17,500 plus $100 in brokerage fees. This investment was properly classified as a short-term investment. At December 31, 2015, the end of the investor's fiscal year, the investment had risen in value to $18,600. On March 1, 2016, the company received $700 in cash dividends from the investment. On April 1, 2016, the investment was sold for $16,400 less $100 in brokerage fees. Additonal information: . The Company uses the following accounts: Brokerage Commissions Expense Short-Term Investments Unrealized loss on Fair-Value Adjustment Unrealized gain on Fair-Value Adjustment Fair-Value Valuation Allowance Gain on Sale of Short-Term Investments Loss on Sale of Short-Term Investments Required: Show all calculations; No explanation is required. Prepare journal entries for 2015 (Sep.1 and Dec.31) through 2016 (March. I and April 1) relating to the above transactions
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