Hi i need help with some accounting homework. i do not want the

Hi I need help with some accounting homework. I do not want the answers, I need to know how to get the answers. Thanks.

 

 

Carlsville Company, which began operations in 2013, invests its idle cash in trading securities. The following transactions are from its short-term investments in its trading securities.

      

2013  
Jan. 20   Purchased 800 shares of Ford Motor Co. at $26 per share plus a $125 commission.
Feb. 9   Purchased 2,200 shares of Lucent at $44.25 per share plus a $578 commission.
Oct. 12   Purchased 750 shares of Z-Seven at $7.50 per share plus a $200 commission.

    

2014  
Apr. 15   Sold 800 shares of Ford Motor Co. at $29 per share less a $285 commission.
July 5   Sold 750 shares of Z-Seven at $10.25 per share less a $102.50 commission.
July 22   Purchased 1,600 shares of Hunt Corp. at $30 per share plus a $444 commission.
Aug. 19   Purchased 1,800 shares of Donna Karan at $18.25 per share plus a $290 commission.

      

2015  
Feb. 27   Purchased 3,400 shares of HCA at $34 per share plus a $420 commission.
Mar. 3   Sold 1,600 shares of Hunt at $25 per share less a $250 commission.
June 21   Sold 2,200 shares of Lucent at $42 per share less a $420 commission.
June 30   Purchased 1,200 shares of Black & Decker at $47.50 per share plus a $595 commission.
Nov. 1  Required:

1.

Prepare journal entries to record these short-term investment activities for the years shown. (Ignore any year-end adjusting entries.)

Sold 1,800 shares of Donna Karan at $18.25 per share less a $309 commission.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>