I-06.05 Problem

I-06.05 Problem - necessary to solve this problem It is...

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I-06.05 Pulaski Mining Corporation occasionally acquires short-term investments for trading purposes. On August 1, 20X7, Pulaski acquired stock investments in four different companies: Aztec Zinc (cost of $125,000), Morton Construction (cost of $75,000), Particle Drilling (cost of $80,000), and Astraview Navigation (cost of $20,000). The company's stock broker emailed the following listing of investment values at the end of August, September, and October. These data were imported into a spreadsheet as follows. You are to prepare the journal entries needed to record the initial investment in this portfolio, as well as end of month adjusting entries for August, September, and October. The electronic spreadsheet includes a pivot table that will aid your compilation of data
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Unformatted text preview: necessary to solve this problem. It is found immediately after the data on the excel spreadsheet version of the problem. Company Month Market Value Aztec Zinc August 130,000 $ Aztec Zinc September 145,000 Aztec Zinc October 142,000 Morton Construction August 70,000 Morton Construction September 61,000 Morton Construction October 58,000 Particle Drilling August 89,000 Particle Drilling September 109,000 Particle Drilling October 101,000 Astraview Navigation August 20,000 Astraview Navigation September 22,000 Astraview Navigation October 16,000 PIVOT TABLE Company Astraview Navigation Sum of Market Value Month Total August 20000 Grand Total 20000...
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