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Showing posts with label Trading Securities. Show all posts
Showing posts with label Trading Securities. Show all posts

Wednesday, February 9, 2011

Accounting: Exercise 15-1A -Protom Company

Solution is available here for U$7.50

Protom Company, which began operations in 2009, invests its idle cash in trading securities.  The following transactions are from its short-term investments in its trading securities.
2009
Jan. 20 Purchased 800 shares of Ford Motor Co. at $26 per share plus a $120 commission.
Feb.  9 Purchased 2,600 shares of Lucent at $39 per share plus a $578 commission.
Oct. 12 Purchased 800 shares of Z-Seven at $7.50 per share plus a $200 commission.

2010
Apr. 15 Sold 800 shares of Ford Motor Co. at $30 per share less a $300 commission.
July  5 Sold 800 shares of Z-Seven at $11 per share less a $103 commission
July. 22 Purchased 2,000 shares of Hunt Corp. at $39 per share plus a $444 commission.
Aug. 19 Purchased 1,600 shares of Donna Karan at $19.50 per share plus a $290 commission.