On September 15, 2010, James Media Corporation purchased 5,000 shares of Community Broadcasting Company for $32 per
Question:
Price
12/31/2010 ... $34
12/31/2011 .. 25
12/31/2012 ... 21
Required:
1. Prepare journal entries to record the facts in the case, assuming that James Media purchased the shares for the trading portfolio.
2. Prepare journal entries to record the facts in the case, assuming that James Media purchased the shares for the available-for-sale portfolio.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Req 1 Sept 15 2010 Investment in TS A 160000 Cash A 5000 shares x 32 160000 Dec 31 2010 Allowa...View the full answer
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