Question: Old MathJax webview 5mins until the test is overr plsss alion. tions - ving in On October 9, 2019, Korlan Company purchased 1,000 shares of

Old MathJax webview

Old MathJax webview 5mins until the test is overr plsss alion. tions

5mins until the test is overr plsss

alion. tions - ving in On October 9, 2019, Korlan Company purchased 1,000 shares of Z Corporation ordinary shares for a total of $10,000 and classified them as trading securities. Thus the cost per share is $10. On December 31, 2019, the market value of the shares was $15 per share. On December 31, 2020, it was $8 per share. 5.) What is the total market value of the 1,000 shares of Z Corporation stock on December 31, 2019. (a.) $1,000 (b.) $2,000 (c.) $10,000 (d.) $15,000 (e.) none of the above 6.) Prepare the appropriate journal entries for December 31, 2019. (a.) Dr. Loss on Trading Securities 2,000; Cr. Trading Securities 2,000 (b.) Dr. Loss on Trading Securities 5,000; Cr. Trading Securities 5,000 (c.) Dr. Trading Securities 5,000; Cr. Gain on Trading Securities 5,000 (d.) Dr. Trading Securities 15,000; Cr. Gain on Trading Securities 15,000 (e.) none of the above 7.) Prepare the appropriate journal entries for December 31, 2020. (a.) Dr. Loss on Trading Securities 5,000; Cr. Trading Securities 5,000 (b.) Dr. Loss on Trading Securities 7,000; Cr. Trading Securities 7,000 (c.) Dr. Loss on Trading Securities 10,000; Cr. Trading Securities 10,000 (d.) Dr. Loss on Trading Securities 15,000; Cr. Trading Securities 15,000 (e.) none of the above

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