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Journal Entry Examples

This formatted MS Excel spreadsheet contains examples and illustrations of journal entries involving investment problems.

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For your convenience, I have attached a formatted MS Excel spreadsheet containing the information below.

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Q.10) The following are in Sanders Company's portfolio of long term available for sale securities at December 31, 2006.
Cost
500 shares of Bonds Corporation common stock $2,600
700 shares of Ruth Corporations common stock $42,000
600 shares of Edmonds Corporation preferred stock $16,800

On December 31, the total cost of the portfolio equaled total fair value. Sanders Company had the following transactions related to the securities during 2007.

Jan. 7 Sold 500 shares of Bonds Corporation common stock at $58 per share, less brokerage fess of $700.
Jan. 10 Purchased 200 shares of the $70 par value common stock of Schilling Corporation at $78 per share, plus brokerage less of $240.
Jan. 26 Received a cash dividend of $1.15 per share on Ruth Corporation common ...

Solution Summary

This formatted MS Excel spreadsheet contains examples and illustrations of journal entries involving investment problems.

$2.19