Recording Transactions in the Available-for-Sale Securities Portfolio
On June 30, 2011. Slick Books, Inc., purchased 9,000 shares of Syntax stock for $20 per share. Management recorded the stock in the securities available for sale portfolio. The following information pertains to the price per share of Syntax stock:
Price | |
12/31/2011 | $24 |
12/31/2012 | 29 |
12/31/2013 | 26 |
Slick Books sold all of the Syntax stock on February 14, 2014, at a price of $23 per share. Prepare any journal entries that are required by the facts presented in this case.
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