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The company invests in trading securities. Year end market prices were : Security Price per share Shares Extension Total Security X 5 4,000 20,000 Security
| The company invests in trading securities. Year end market prices were : | |||||
| Security | Price per share | Shares | Extension | Total | |
| Security X | 5 | 4,000 | 20,000 | ||
| Security Y | 3 | 2,000 | 6,000 | ||
| Security Z | 18 | 1,500 | 27,000 | ||
| HAL | 29 | 1,000 | 29,000 | ||
| The company held 4,000 shares of X, 2,000 shares of Y and 1,500 shares of Z at 12/31/20. | 82,000 | ||||
| The company owns 1,000 shares of HAL Corp., which are also trading securities (used to be held for sale). At the end of 2020, HAL was priced at $29 per share. |
Provide Journal Entries.
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Journal Entry for Security X Security X was held at 4000 shares and the market price per share is 5 ...
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Intermediate Accounting
Authors: Earl K. Stice, James D. Stice
18th edition
538479736, 978-1111534783, 1111534780, 978-0538479738
