ADVANCED ACCOUNTING
ADVANCED ACCOUNTING
3rd Edition
ISBN: 9781618531902
Author: Halsey & Hopkins
Publisher: Cambridge Business Publishers
Question
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Chapter 7, Problem 40P
To determine

Prepare journal entries to record the transactions given below:

  1. a. Purchase of the GE securities on June 1
  2. b. The change in the fair value of the shares as of December 31, 2013, and the purchase of the option.
  3. c. The change in the fair value of the GE shares and the put option as of December 31, 2014.
  4. d. Record sale of securities on December 31, 2015.

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