Question: This window shows your responses and what was marked correct and Incorrect from your previous attempt. On June 30, 2016, Slick Rocks, Inc., purchased 9,900
This window shows your responses and what was marked correct and Incorrect from your previous attempt. On June 30, 2016, Slick Rocks, Inc., purchased 9,900 shares of Sandstone stock for $22 per share. Management recorded the stock in the available-for-sale securitles portfolio. The following information pertains to the price per share of Sandstone stock: Price $27 12/31/2016 12/31/2017 12/31/2018 24 31 ed Slick Rocks sold all of the Sandstone stock on February 14, 2019, at a price of $33 per share. Prepare any Journal entries that are required by the facts presented in this case. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) NO Date General Journal Credit Debit 217,800 1 June 30, 2016 Investments in AFS securities Cash 217,800 2 Dec 31, 2016 49,500 Investments in AFS securities Net unrealized gains (losses) 49,500 3 Dec 31, 2017 69,250 $ Gain on sale of investments Cash * 69.250 4 Dec 31, 2018 158,300 Investments in AFS securities Net unrealized gains (losses) 158,300 $ 5 Feb. 14, 2019 Investments in AFS securities 108,900 3 108.900 *
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