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Shareplus 556/22/2023 ![]() ![]() The year-end fair values per share were Sanchez $30, Vicario $55, and WTA $28. On May 20, 2017, Aranda sold 4,000 shares of Sanchez Company's common stock at a market price of $35 per share less brokerage commissions, taxes, and fees of $3,850. 3.On September 10, purchased 7,000 shares of WTA Co.'s preferred stock at $26.50 per share plus commission $4,910. 2.On April 1, purchased 5,000 shares of Vicario Co.'s common stock at $52.00 per share plus commission $3,370. 1.On January 15, purchased 10,000 shares of Sanchez Company's common stock at $33.50 per share plus commission $1,980. (a) Prepare the journal entries to record the above three security purchases.Īranda Corporation made the following cash purchases of securities during 2017, which is the first year in which Arantxa invested in securities. The equity method of accounting is not appropriate for these stock purchases. In addition, the chief accountant of Aranda told you that the corporation plans to hold these securities for the long-term but may sell them in order to earn profits from appreciation in prices. Aranda Corporation made the following cash purchases of securities during 2017, which is the first year in which Arantxa invested in securities. ![]()
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