Bird Beak Corporation made the following available-for-sal
Question and Solution
Bird Beak Corporation made the following available-for-sale securities transactions: Jan. 14 Purchased 4,000 shares of Pinegar Corporation common stock at $20.80 per share. Mar. 31 Received a cash dividend of $0.25 per share on the Pinegar stock. Aug. 28 Sold 1,600 shares of Pinegar stock at $22.60 per share. Dec. 31 The market value of the Pinegar stock was $24 per share. Prepare journal entries to record the transactions.