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Journalize the acquisition of mauve stock on november

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Davis ?Consulting, Inc., invests its temporary excess cash in a brokerage account. On November ?3, 2014?, Davis purchased 500 shares of Mauve, Co. common stock for $ 20 per share. On December ?31, 2014? Mauve?'s common stock was trading at $ 19 per share. Assume Davis records the stock as a trading investment.

Requirements

Question 1: Journalize the acquisition of Mauve stock on November ?3, 2014

Question 2: Journalize any? entries, if? required, at December ?31, 2014

Question 3: On January ?25, Davis sold the Mauve stock for $ 20.50 per share. Journalize the sale.

Reference no: EM132489066

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