Question

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HW 2: Following Transactions Occurred at Ali Company during 2017: - 111 bought 15000 Share from Al Nasr Share by $100 Per Share , Broker Commission was 0.22%, Which Number Were 200000 Share - 114 Sold 4000 Share from Al Nasr Share by $76, Broker Commission was 0.20%. I Sold 2000 Share from Al Nasr Share by $118. Broker Commission was 0.22% 31/12 Al Nasr Share at Exchange Commission Realized 92 as Closing Price Required : 1- Journal 2. Determine the Impact on the Financial Statements. If you know that Securities Classified as Available For Sales Securities

Answer 1

Journal Entry
Date	Particulars	Dr.	Cr.
01/01	Available for sale security- AI Nasr	$1,503,300.00
	Cash ( 15000X100)+0.22%		$1,503,300.00
	Record security purchased
01/04	Cash (4000X76)-0.20%	$303,392.00
	Loss on Sale of Stock	$97,488.00
	Available for sale security- AI Nasr (1503300/15000*4000)		$400,880.00
	To Record Sale of Stock
01/07	Cash (2000X118)-0.22%	$235,481.00
	Gain on Sale of Stock		$35,041.00
	Available for sale security- AI Nasr (1503300/15000*2000)		$200,440.00
	To Record Sale of Stock
31/12	Unrealized gain/loss – other comprehensive income	$73,980.00
	Available for sale security- AI Nasr (1503300/15000*9000)- (9000X92)		$73,980.00
	Record Fair Value adjustment