On March 1, 2009, HiTech Industries purchased 10,000 shares of Integrated Services Company for $17 per share.
Question:
Price
12/31/2009 ... $15
12/31/2010 ... 21
12/31/2011 ... 27
Required:
1. Prepare journal entries to record the facts in the case, assuming that HiTech purchased the shares for the trading portfolio.
2. Prepare journal entries to record the facts in the case, assuming that HiTech purchased the shares for the available-for-sale portfolio.
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Req 1 March 1 2009 Investment in TS A 170000 Cash A 170000 10000 shares x 17 per share Dec 3...View the full answer
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