Sold 225 shares of another company's stock for 28.00 per share. Original purchase was for 22.00 plus a commision of $72. Brokerage company retained a commision of $80 on the sale and we recevied a check for the net sales proceeds.

What are the journal entries for this?

I was thinking I would decrease marketable securites, use other expense in figuring the commsion, increase cash, and realize a gain?

I am clueless.

Thank you for your help, it is much appreciated.

I am doing a project for school and am really pretty desperate at this point. If anyone has even an idea that I can work with it would be wonderful!!

You're thinking along the right lines. Reduce your marketable securities account with a credit for your cost in the sold shares ($22 per, plus the commission paid at purchase).

As to the proceeds side of the transaction, record a sale for the full selling price ($28 per), and separately book a debit for the commission paid. Some folks might just net the two, but in so doing you're losing track of info that could be useful down the road. (Periodically, I'd like to look at my Commissions Expense account, just to keep tabs on exactly how much coin I'm sending my broker--maybe I really am putting his kid through school!)

All of this could take the form of a JE that credits Marketable Securities as above, debits Cash for your net sale proceeds, debits Commission Expense for the eighty bucks, and credits something like "Gain on Sale of Mrktbl Securities" for $1,278.

Best of luck in your project.

...it was early and I was full of no coffee...