Question

Tampa Today Publishers completed the following trading investment transactions during 2014 and 2015:
2014
Dec. 6 Purchased 950 shares of Golden stock at a price of $ 25.00 per share, intending to sell the investment next month.
23 Received a cash dividend of $ 1.30 per share on the Golden stock.
31 Adjusted the investment to its market value of $ 20.00 per share.
2015
Jan. 27 Sold the Golden stock for $ 22.00 per share.

Requirements
1. Journalize Tampa’s investment transactions. Explanations are not required.
2. On December 31, 2014, how would the Golden stock be classified and at what value would it be reported on the balance sheet?



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  • CreatedJanuary 16, 2015
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