pequot22
Mar 17, 2009, 09:32 PM
How do I journalize marketable securities with a gain
ROLCAM
Mar 17, 2009, 10:52 PM
Example:-
You bought 10 BHP shares for $3,000.
You sold 10 BHP shares for $3,500.
You made a gain of $500 on the 2 transactions.
1) DEBIT Shares Account $3,000
2) CREDIT Bank Account $3,000
Being bought 10 BHP shares for $3,000.
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1) DEBIT Bank Account $3,500
2) CREDIT Shares Account $3,000
3) CREDIT Gain on Shares Account $ 500.
Being sold 10 BHP shares for $3,500
Making a gain of $500.