Jan. 1 Acquired 150 shares of Block Corporation common stock for $20 per share, 200 shares...
| Jan. 1 | Acquired 150 shares of Block Corporation common stock for $20 per share, 200 shares of Bridle Corporation common stock for $30 per share, and 100 shares of Alpha Corporation common stock for $25 per share. These are the only shares the company owns. journal entry |
Homework Answers
Answer:
| Date | Accounts titles and Explanation | Debit ($) | Credit ($) |
| Jan-01 | Investment in Trading Securities | 11,500 | |
| Cash | 11,500 | ||
| (To record purchase of securities) | |||
| Working | |||
| Block Corporation common stock (150*20) | 3,000 | ||
| Bridle Corporation common stock (200*30) | 6,000 | ||
| Alpha Corporation common stock (100*25) | 2,500 | ||
| Total Amount($) | 11,500 | ||
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