Haladam Company Had the Following Transactions Relating to Investments in Trading

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.
May 4 Haladam purchased 600 shares of Cob Company stock at $\$ 120$ per share plus a $\$ 750$ brokerage fee.

July 1 Haladam received a \$2.50 per share cash dividend on the Cob Company stock.
Sept. 15 Sold 300 shares of the Cob Company stock for $\$ 125$ per share, less a $\$ 450$ brokerage fee.

Dec. 31 The market value of the Cob Company stock (the only investment that Haladam owns) is \$124 per share. The balance of the Market Adjustment - Trading a zero balance prior to adjustment.