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Hi I need help with some accounting homework. I do not want the answers, I need to know how to get the answers. Thanks.
Carlsville Company, which began operations in
, invests its idle cash in trading securities. The following transactions are from its short-term investments in its trading securities.
| Jan. | Purchased 800 shares of Ford Motor Co. at $26 per share plus a $125 commission. | |
| Feb. | Purchased 2,200 shares of Lucent at $44.25 per share plus a $578 commission. | |
| Oct. | Purchased 750 shares of Z-Seven at $7.50 per share plus a $200 commission. |
| 2014 | ||
| Apr. | Sold 800 shares of Ford Motor Co. at $29 per share less a $285 commission. | |
| July | Sold 750 shares of Z-Seven at $10.25 per share less a $102.50 commission. | |
| Purchased 1,600 shares of Hunt Corp. at $30 per share plus a $444 commission. | ||
| Aug. | Purchased 1,800 shares of Donna Karan at $18.25 per share plus a $290 commission. |
| 2015 | ||
| Purchased 3,400 shares of HCA at $34 per share plus a $420 commission. | ||
| Mar. | Sold 1,600 shares of Hunt at $25 per share less a $250 commission. | |
| June | Sold 2,200 shares of Lucent at $42 per share less a $420 commission. | |
| Purchased 1,200 shares of Black & Decker at $47.50 per share plus a $595 commission. | ||
| Nov. | Required:1.Prepare journal entries to record these short-term investment activities for the years shown. (Ignore any year-end adjusting entries.) |
Sold 1,800 shares of Donna Karan at $18.25 per share less a $309 commission.
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