Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year: Dec. 31. At the end of the accounting period, the fair value of the remaining 600 shares of Tetts Co.'s stock was $85.35 per share. The fair value of the remaining 1,750 shares for Issaxson Co.'s stock was equal to its cost of 436.04 per share. Journalize the entry for this tr
Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year: Dec. 31. At the end of the accounting period, the fair value of the remaining 600 shares of Tetts Co.'s stock was $85.35 per share. The fair value of the remaining 1,750 shares for Issaxson Co.'s stock was equal to its cost of 436.04 per share. Journalize the entry for this tr
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year: Dec. 31. At the end of the accounting period, the fair value of the remaining 600 shares of Tetts Co.'s stock was $85.35 per share. The fair value of the remaining 1,750 shares for Issaxson Co.'s stock was equal to its cost of 436.04 per share.
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