Prepare journal entries to record all investment purchases

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Reference no: EM131763177

Problem: Surabaya Company made a stock investment transaction for trading in 2015 as follows:

1) January 1, 2015, boughy 10,000 ordinary shares of A Company at $36/share plus commission $1,980

2) April 1, purchased 4,000 ordinary shares of B Company at $50/share plus commission $3,000

3) June 1, sold 3,500 ordinary shares of A Company at $39/share less commission $2,500

4) The year-end fair values per share were,

A Company = $30

B Company = $60

Questions: A. Prepare journal entries to record all investment purchases!

B. Prepare journal entries for the investment sale of A Company!

C. Prepare adjusting entries for the end of year 2015!

Reference no: EM131763177

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