On November 19,2009,Lassen Company purchased 30,000 shares of JCN Corporation stock for $480,000,and 10,000 shares of Canoga Corporation stock for $250,000.Lassen's management intends to hold all 40,000 shares for a short period of time.On December 31,2009,the price of JCN's stock was $13 per share,and the price of the Canoga stock was $30 per share.Finally,on January 27,2010,Lassen sold all 10,000 shares of Canoga stock for $320,000.In the journal provided below,prepare Lassen's entries for November 19,December 31,and January 27.

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The Answer of On November 19,2009,Lassen Company purchased 30,000 shares of JCN Corporation stock for $480,000,and 10,000 shares of Canoga Corporation stock for $250,000.Lassen's management intends to hold all 40,000 shares for a short period of time.On December 31,2009,the price of JCN's stock was $13 per share,and the price of the Canoga stock was $30 per share.Finally,on January 27,2010,Lassen sold all 10,000 shares of Canoga stock for $320,000.In the journal provided below,prepare Lassen's entries for November 19,December 31,and January 27.

On November 19,2009,Lassen Company Purchased 30,000 Shares of JCN Corporation