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Prepare journal entries to record short-term investments

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Question - Ryder Company, which began operations in 2011, invests its idle cash in trading securities. The following transactions are from its short-term investments in its trading securities.

2011

Jan 20 Purchased 1,000 shares of Ford Motor Co. at $26 per share plus a $125 commission.

Feb 9 Purchased 2,700 shares of Lucent at $32 per share plus a $195 commission.

Oct 12 Purchased 760 shares of Z-Seven at $7.60 per share plus a $95 commission.

2012

Apr 15 Sold 1,000 shares of Ford Motor Co. at $29 per share less a $295 commission.

July 5 Sold 760 shares of Z-Seven at $10.25 per share less a $90 commission.

July 22 Purchased 1,700 shares of Hunt Corp. at $32 per share plus a $225 commission.

Aug 19 Purchased 1,900 shares of Donna Karan at $14 per share plus a $100 commission.

2013

Feb 27 Purchased 3,700 shares of HCA at $32 per share plus a $420 commission.

Mar 3 Sold 1,700 shares of Hunt at $27 per share less a $130 commission.

June 21 Sold 2,700 shares of Lucent at $29.75 per share less a $37 commission.

June 30 Purchased 1,400 shares of Black & Decker at $47.50 per share plus a $595 commission.

Nov 1 Sold 1,900 shares of Donna Karan at $24.00 per share less a $119 commission.

Prepare journal entries to record these short-term investment activities for the years shown.

Reference no: EM131867121

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