Question: On October 4 2010 Collins Company purchased 100 shares of

On October 4, 2010, Collins Company purchased 100 shares of Steph Company common stock for $64 per share as a temporary investment in securities available for sale. On December 31, 2010, the stock had a fair value of $63 per share, and on February 8, 2011, Collins sold the stock for $67 per share.

Required
In journal entry form, prepare the worksheet entries to record these transactions for the Collins Company’s 2010 and 2011 statement of cash flows.




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  • CreatedDecember 09, 2013
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