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Record (in the T-shape) and journalize (on the Ledger):

Record (in the T-shape) and journalize (on the Ledger):

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA2: Investments
Section: Chapter Questions
Problem 23E
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On March 28, 2021 Alfa Inc purchased 3,500 shares of Microsoft Corporation at the price of 50 $ per share. At December 31, 2021 Microsoft Corporation share value on the stock market is equal to 57 $ per share. At January 15, 2022 Alfa Inc sells all the Microsoft shares at the price of 60$ per share. Record (in the T-shape) and journalize (on the Ledger): • the purchase, • the adjusting entries at December 31, 2021 and • the sale.
Transcribed Image Text:On March 28, 2021 Alfa Inc purchased 3,500 shares of Microsoft Corporation at the price of 50 $ per share. At December 31, 2021 Microsoft Corporation share value on the stock market is equal to 57 $ per share. At January 15, 2022 Alfa Inc sells all the Microsoft shares at the price of 60$ per share. Record (in the T-shape) and journalize (on the Ledger): • the purchase, • the adjusting entries at December 31, 2021 and • the sale.
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