Haladam Company Had the Following Transactions Relating to Investments in Trading

question 136

Essay

Haladam Company had the following transactions relating to investments in trading securities during the year.Prepare the required general journal entries for these transactions.
$\begin{array}{cl}\text{May 4} & \text{Haladam purchased 600 shares of Cob Company stock at \$ 120 per share plus a \$ 750}\\&\text{brokerage fee.}\\\text{July 1}& \text{Haladam received a \$ 2.50 per share cash dividend on the Cob Company stock.}\\\text{Sept. 15} &\text{Sold 300 shares of the Cob Company stock for \$ 125 per share, less a \$ 450}\\ &\text{brokerage fee.}\\\text{Dec. 31}& \text{The market value of the Cob Company stock (the only investment that Haladam}\\&\text{owns) is \$124 per share. The balance of the Market Adjustment - Trading a zero}\\ &\text{balance prior to adjustment.}\end{array}$

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Definitions:

Mental Representations

Contents in the mind that stand for some object, event, or state of affairs.

Propositions

Statements or assertions that express judgments or opinions.

Analogical Representation

A mental representation that serves as a counterpart or analogy to something physically present in the real world, often used in problem-solving and reasoning.

Symbolic Representation

is the use of symbols or abstract figures to represent ideas, concepts, or objects in a way that is not literally true but conveys meaning.