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QUESTION 3 (30 POINTS) Insta Corp. invests in shares of other companies in 2015 for generating profit as shown below; a. Classify each investment as

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QUESTION 3 (30 POINTS) Insta Corp. invests in shares of other companies in 2015 for generating profit as shown below; a. Classify each investment as trading or available for sale. DT: EA: b. Prepare the necessary journal entries for Insta Corp. (Hint: entries for purchase of securities, adjusting entries at Dec.31 2015 and 2016, entries for sale of securities). QUESTION 3 (30 POINTS) Insta Corp. invests in shares of other companies in 2015 for generating profit as shown below; a. Classify each investment as trading or available for sale. DT: EA: b. Prepare the necessary journal entries for Insta Corp. (Hint: entries for purchase of securities, adjusting entries at Dec.31 2015 and 2016, entries for sale of securities)

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