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Prepare general joumal entries for the following transactions involving short-term securities (assume no investrents were held prior to the following transactions) () Feb 18: Purchased
Prepare general joumal entries for the following transactions involving short-term securities (assume no investrents were held prior to the following transactions) () Feb 18: Purchased 700 Flay Corp shares at $45 per share. Commission was $40 (b) Feb 26 Purchased 300 Laurier Corp shares at 532 per share, no commission (c) Mar 2. Received a $5 per share dividend on the Flay Comp shares (d) Mar 28: Sold 150 shares of Flay Corp at $55 per share (e) April 20: Sold 250 shares of Laurier Corp at $20 per share. (April 30. End of the quarter. The company is preparing quarterly statements Fair values for securities are as follows Fay Corp 47 pet share and Lauren Corp $21 per share
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