Reference no: EM133004393
Problem 1: Record the journal entry for each event below:
a. Christopher Corporation purchases 1,000 shares of stock in Alpha Company for $30 per share on 7/1/X9. This investment is considered an available-for-sale security.
b. On 9/30/X9, Christopher prepares quarterly financial statements. At this date, Alpha is selling for $25 per share. Record any unrealized holding gain or loss.
c. On 12/31/X9, Investor prepares annual financial statements. At this date, Alpha is selling for $28 per share. Record any unrealized holding gain or loss.
d. On 2/13/X0, Christopher sells 700 shares of Alpha for $31 per share.
e. On 2/28/X0, Alpha pays a dividend of $0.40 per share.
f. On 3/31/X0, Christopher prepares quarterly financial statements. At this date, Alpha is selling for $30 per share
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