The company invests in trading securities. Year end market prices were :
	Security	Price per share	Shares	Extension	Total
	Security X	5	4,000	20,000
	Security Y	3	2,000	6,000
	Security Z	18	1,500	27,000
	HAL	29	1,000	29,000
The company held  4,000 shares of X, 2,000 shares of Y and 1,500 shares of Z  at 12/31/20.				82,000
The company owns 1,000 shares of HAL Corp., which are also trading securities (used to be held for sale). At the end of 2020, HAL was priced at $29 per share.

Provide Journal Entries.

Answer rating: 100% (QA)

Journal Entry for Security X Security X was held at 4000 shares and the market price per share is 5 ... View the full answer