Computation of unrealised gain or loss in market value

Reference no: EM1310851

Computation of unrealised gain or loss in market value of trading securities.

Haladam Co had the following transactions relating to investments in trading securities during the year. Prepare the required general journal entry for these transactions.

May 4 - Haladam purchased 600 shares of Cob Company stock at $120 per share plus $750 brokerage fee

July 1 Haladam received a $2.50 per share cash dividend on the Cob Company stock

Sept 15 - Sold 300 shares of Cob Company stock for $125 per share, less $450 brokerage fee

Dec 31 - the market value of the Cob Company stock (the only investment that Haladam owns) is $124 per share. The balance of the market adjustment - trading had a zero balance prior to adjustment.

Reference no: EM1310851

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