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Question 11 Wells Inc. reported these transactions relating to marketable Held for Trading Investments intended to generate net income and to be sold in the
Question 11 Wells Inc. reported these transactions relating to marketable Held for Trading Investments intended to generate net income and to be sold in the near term: Feb 1 Jun 1 Oct 1 Dec 31 Purchased 500 shares of Tavlor Corp. for $7,500 cash. Received cash dividends of S3 per share on Taylor shares Sold 200 shares of Taylor Corp. for $3.800. Taylor shares were trading at $13.50 per share. The entry, if any is required, to record the value of the investment on December 31 would include a debit to Unrealized Losses of $450. O No entry is required. O Realized Losses for $450. Unrealized Loss for $750
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