Prepare the journal entry to record receipt of cosco annual

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Reference no: EM132671414

At December 31. 2012 the investment in Trading securities of Kellogg Company were as follows :

Security                                Shares Unit            Cost Unit        Market Value Dec 31

Costco Preferred stock 5% , $25 800                  $125                          $135

Kmart Common stock $ 10 par 300                          25                         20

The fiscal year ends December 31 , and these securiies were all purchased during the Year 2012

Problem 1) Prepare the journal entry to record the acquisiton of these investments on January 1

Problem 2) Prepare the journal entry to record receipt of Cosco annual preferred cash dividends Oct 31

Problem 3) Prepare Any necessay entries at year end December 31

Problem 4) On January 30 of the following year Kmart stock was trading at $15 per share and Investor decided to sell 200 Kmart shares

Problem 5) On January 30 of the following year Costco preferred shares were trading at $140 per share and investor is hodling on to these for now and instruct to update the accounts

Reference no: EM132671414

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