hi can someone help please Bramble Corp. has the following...
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hi can someone help please
Bramble Corp. has the following portfolio of securities acquired for trading purposes and accounted for using the FV-NI model at September 30, 2017, the end of the company's third quarter: On October 8, 2017 ( 4th quarter), the Yuen shares were sold for $5.10 per share, On November 16, 2017, 3,000 common shares of Patriot Corp. were purchased at $43.30 per share. Bramble pays a 1% commission on purchases and sales of all securities. At the end of the fourth quarter, on December 31,2017 , the fair values of the shares held were as follows: Monty \$101,300; Patriot $115,500; and Oakwood $111,650. Bramble prepares financial statements every quarter. a) Make the journal entry recorded by Bramble at September 30, 2017 to adjust the portfolio to market? b) Prepare journal entries for all purchases, sales and adjusting entries related to the portfolio for the fourth quarter of 2017. c) How will the investments be reported on the balance sheet at December 31, 20177
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