Using the data in EA 5, assume that Dearden management purchased the Jaffa stock for the trading securities portfolio instead of the available for sale securities portfolio Prepare any journal entries that are required by the facts presented in the case Data in EA 5 On March 10, 2015, Dearden, Inc ...

March 10 2015 Investments in TS A 525000 Cash A 525000 15000 shares x 35 per share Dec 31 2015 Net u ...

Using the data in EA-5, assume that Dearden management purchased the Jaffa stock for the trading securities

Question:

Using the data in EA-5, assume that Dearden management purchased the Jaffa stock for the trading securities instead of the available-for-sale securities Prepare any journal entries that are required by the facts presented in the case.
Data in EA-5
On March 10, 2015, Dearden, Inc., purchased 15,000 shares of Jaffa stock for $35 per share. Management recorded it in the available-for-sale securities The following information pertains to the price per share of Jaffa stock:
Price
12/31/2015 ................. $33
12/31/2016 ................. 36
12/31/2017 ................. 32
Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...