EverOne Corp. has the following securities in its trading portfolio of securities on December 31, 2014. All

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EverOne Corp. has the following securities in its trading portfolio of securities on December 31, 2014.


EverOne Corp. has the following securities in its trading portfo


All of the securities were purchased in 2014.
In 2015, EverOne completed the following securities transactions.
May 1 Sold 500 shares of Swiper Inc., preferred, @ $230 less fees of $2,650.
Oct. 21 Sold the balance of Swiper Inc., preferred, @ $220 plus fees of $3,230.
EverOne Corp.’s portfolio of trading securities appeared as follows on December 31, 2013.

EverOne Corp. has the following securities in its trading portfo


Instructions
Prepare the general journal entries for EverOne Corp. for:
(a) The 2014 adjusting entry.
(b) The May sale of the Swiper stock.
(c) The October sale of the Swiper stock.
(d) The 2015 adjusting entry for the tradingportfolio.

Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...
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Related Book For  answer-question

Intermediate Accounting

ISBN: 978-1118147290

15th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield

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