Question: *how do I record the journal entry and calculate and record the gain and loss on the sale of the marketable securities? *Be sure to

*how do I record the journal entry and calculate and record the gain and loss on the sale of the marketable securities?

*Be sure to consider the effects of both the purchase and sale commission expense

sold 200 shares of Lucas corporation common stock for $27 per share. the shares were originally purchased on July 11, 2022, for 23.00 per share plus a commission of $115. central brokerage retained a commission of $135 on the sale and sent the net proceeds via ACH payment made to Waren. Received an email notification from first American bank and trust for the ACH cash receipts

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

*how do I record the journal entry and calculate and record the gain and loss on the sale of the marketable securities? *Be sure to consider the effects of both the purchase and sale commission...

Q:

Bramble Limited had investments in securities on its statement of financial position for the first time at the end of its fiscal year ended December 31, 2020. Bramble reports under IFRS and its...

Q:

On Jamary 1 . 2 0 2 5 , Shamrock Inc, had the following balance sheet. \ table [ [ \ table [ [ Shamrock Inc. ] , [ Dalance Sheet As of Jmuary 1 . 2 0 2 5 ] ] ] , [ Asvets , , Equity, ] , [ Canh , $ 5...

Q:

please help me finish this project the questions in the word document, also when you do that work, please do it on the excel fille that i sent below, dont do it on anything else. After that, fill the...

Q:

I need help with my statement of cash flows, specifically, the cash paid to suppliers and employees section. I need the calculations so that this section of the statement of cash flows equals to be a...

Q:

Scroll down to complete all parts of this task. Record the journal entries to be made by Fox Inc. for the following marketable security transactions based on the information in the exhibit. To...

Q:

Record the journal entries to be made by Fox Inc. for the following marketable security transactions based on the information in the exhibit. Year 1 Journal Entries 1. Mark-to-market journal entry...

Q:

No the objects here are very readable you just to lazy to put forward any effort. I read everything on here Need Adjusting Journal Entries 1 ABC Corporation 2 Unadjusted Trial Balance 3 December 31,...

Q:

Question One: Bank reconciliation (A.) You are required to complete the June 30 bank reconciliation for Silver Company using the following information and as per the given format: 1 $2,325 3 4 $527...

Q:

I need answers for all the questions on this practice final exam. I've attached the file. David A. Dittman, Financial Accounting Question Sheet HA 121 Final Exam Name:...

Q:

a. Calculate the tax disadvantage to organizing a U.S. business today as a corporation, as compared to a partnership, under the following conditions. Assume that all earnings will be paid out as cash...

Q:

Critics of CVP analysis claim that the assumptions underlying the analysis are almost certain to be violated in practice, thus severely limiting the practical value of the various techniques covered...

Q:

Question 3 of 4 - 1 2 5 View Policies Current Attempt in Progress The Carla Company issued 4 0 0 , 0 0 0 of 8 % bonds on January 1 , 2 0 2 2 . The bonds are due January 1 , 2 0 2 7 , with interest...

Q:

Competition between groups must be managed carefully so that it does not escalate into a ( n ) : a . intragroup conflict. b . dysfunctional conflict. c . interorganizational conflict. d . functional...

Q:

3.3 Describe the impact that HRtechnology has on the role of the HR professional and the resulting three major changes to the role of HR.

Q:

3. How has the workplace failed at securing equal opportunities or wages for women?

Q:

2. Why do we need legislation to protect women in the workplace?