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Tamarisk Company has the following portfolio of investment securities at September 30, 2017, its last reporting date. Cost Fair Value $214,430 $198,730 151,300 191,640 Trading
Tamarisk Company has the following portfolio of investment securities at September 30, 2017, its last reporting date. Cost Fair Value $214,430 $198,730 151,300 191,640 Trading Securities Horton, Inc. common (5,230 shares) Monty, Inc. preferred (3,790 shares) Oakwood Corp. common (1,070 shares) 144,020 192,600 On October 10, 2017, the Horton shares were sold at a price of $56 per share. In addition, 3,080 shares of Patriot common stock were acquired at $58 per share on November 2, 2017. The December 31, 2017, fair values were Monty $119,050, Patriot $144,710, and the Oakwood $206,610 Prepare the journal entries to record the sale, purchase, and adjusting entries related to the equity securities in the last quarter of 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Credit
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