QUESTION 3 (30 POINTS) Insta Corp. invests in shares of other companies in 2015 for...
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QUESTION 3 (30 POINTS) Insta Corp. invests in shares of other companies in 2015 for generating profit as shown below; Market Value Dee. 31 2016 Date sold Security Purchase date Cost 2015 Selling price DT June 2015 48.000 TL 54.000TL 60.800TL Feb. 2017 59.600TL EA June 2015 116.000TL 104.800TL 114.000TL March 2016 a. Classify each investment as trading or available for sale. DT: EA: b. Prepare the necessary journal entries for insta Corp. (Hint: entries for purchase of securities, adjusting entries at Dec 31 2015 and 2016, entries for sale of securities)
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