Question: i need this in 5 mins helpppppp Prepare general Journal entries for the following transactions involving short-term securities (assume no investments were held prior to
Prepare general Journal entries for the following transactions involving short-term securities (assume no investments were held prior to the following transactions) (a) Feb 16: Purchased 700 Flay Corp shares at $45 per share. Commission was $40. (b) Feb 26 Purchased 300 Laurier Corp shares at $32 per share, no commission (c) Mar 2: Received a $5 per share dividend on the Flay Corp shares (d) Mar 28: Sold 150 shares of Flay Corp at $55 per share. (e) April 20: Sold 250 shares of Laurier Corp at $20 per share. (1) April 30: End of the quarter. The company is preparing quarterly statements. Fair values for securities are as follows: Flay Corp $47 per share, and Laurier Corp $21 per share, 17:42 Short Answer Toolbar navigation V BI V S 35 A 2
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