Problem: Surabaya Company made a stock investment transaction for trading in 2015 as follows:
1) January 1, 2015, boughy 10,000 ordinary shares of A Company at $36/share plus commission $1,980
2) April 1, purchased 4,000 ordinary shares of B Company at $50/share plus commission $3,000
3) June 1, sold 3,500 ordinary shares of A Company at $39/share less commission $2,500
4) The year-end fair values per share were,
A Company = $30
B Company = $60
Questions: A. Prepare journal entries to record all investment purchases!
B. Prepare journal entries for the investment sale of A Company!
C. Prepare adjusting entries for the end of year 2015!