Below are the adjusted accounts of Slate Realtors,Inc.,for the month ended Oct.31,2013,listed in alphabetical order:
In the journal provided,prepare Slate's closing entries (omit explanations).
Definitions:
Speculative Bonds
Speculative bonds are high-risk, high-reward investment securities that have a lower credit rating and offer higher yields to compensate for their increased risk.
Fourth Market
Direct trading of stocks and securities among investors or institutions without the use of a broker or public exchange.
Exchange-Listed Stocks
Shares of companies that are traded on a formal exchange, such as the New York Stock Exchange or Nasdaq.
Corporate Ownership
The legal ownership of a corporation, typically represented by shares of stock which provide voting rights and potential dividends to their holders.
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