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Jaleem Corporation Buys 1,000 Shares of Samuel Ltd

Question 52

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Jaleem Corporation buys 1,000 shares of Samuel Ltd.'s common shares as a trading investment.The shares are purchased for $30 a share.At year-end the shares are trading at $32.The adjusting entry at year-end is Jaleem Corporation buys 1,000 shares of Samuel Ltd.'s common shares as a trading investment.The shares are purchased for $30 a share.At year-end the shares are trading at $32.The adjusting entry at year-end is D) No entry is required.
D) No entry is required.

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