Please give Journal / Adjusting Journal entries for the following transactions / year-end “valuation adjustments: (adjustments to market value are done only for our calendar year financial statements)
a. 1/13/01 we bought 4000 shares of Amstel Inc. @$40/share
b. 12/31/01 Amstel is selling for $25/share
c. 1/12/02 we sell 1000 shares of Amstel @ 10/share
d. 12/31/02 Amstel is now worth $50/share
e. 9/9/03 we sell the rest of our Amstel @ 190 share
f)12/31/03 Amstel is now worth $20/share
Marvin Gruza CPA, Adjunct Prof Queens College CUNY
Blog Archive
The Professor
- MARVIN GRUZA, CPA
- Marvin Gruza CPA (a Queens College graduate himself) is/has been an adjunct lecturer at Queens College for the past 10 years in addition to having taught at other local colleges. He teaches multiple sections of accountintg 102 - the second half of the intro/principles class during the fall and spring semesters and teaches the cost and managerial classes during summer session.In addition to teaching he has a local accounting practice that offers services in Accounting, Taxes and related areas.
Contacting the professor - email cpaprofessor@aol.com
students may email Professor Gruza - cpaprofessor@aol.com
please be sure to include your phone number and try to be as specific as possible as to what you need help with or want.
please be sure to include your phone number and try to be as specific as possible as to what you need help with or want.