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Stockholders equity trail balance
I was given 250,000 dollars to invest for 10 weeks. No brokers fees and no overhead. I had a balance of 3.04 after investing the rest. I made 301,124.000 dollars after selling my investment. How do I present this in a trail balance for my teacher?
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So your “company” had 250,000 in cash.
You then invested $204, 996.96 (so let's just say you invested $250,000). That JE would have been: Dr. Investments 250,000 Cr. Cash 250,000 Now you have sold the investments for let's say $300,000. So that JE is: Dr. Cash 300,000 Cr. Investments 250,000 Cr. Gain on Investments 50,000 (a revenue account, goes on the Income Statement) |
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