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journal entry for sale of investment?
On November 11, 2011, Wadsworth Company purchased twenty shares of ZZZ for $8 per
share. Wadsworth held the investment for the remainder of 20II, and as of December 31, the per-share market value of ZZZ had risen to $10. During 2012, Wadsworth sold ten shares of ZZZ for $9 each, and at the end of 2012, the per-share market price of the remaining tens was $12. During 2013, the remaining shares of ZZZ were sold for $14 each. Assume that Wadsworth held no other equity investments during this time. a. Complete the following chart. The first column assumes that the investment was classi· fied as trading securities; the second column assumes that the investment was classified as available-for-sale securities. trading available for sale 2011 income 12/31/11 balance sheet investment value 2012 income 12/31/12 balance sheet investment value 2013 income Total income ('11 '12 '13) b. Comment on the differences. |
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