Oregon Co. had purchased 200 shares of Washington Co. for $40 each this year and classified the

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Oregon Co. had purchased 200 shares of Washington Co. for $40 each this year and classified the investment as a trading security. Oregon Co. sold 100 shares of the stock for $45 each. At year end the price per share of the Washington Co. stock had dropped to $35.
Instructions
Prepare the journal entries for these transactions and any year-end adjustments.

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Intermediate Accounting principles and analysis

ISBN: 978-0471737933

2nd Edition

Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso

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