(Solution) - Fox Company made the following transactions in the common stock -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Fox Company made the following transactions in the common stock of NOP Company:
July 10, 2011 ............................. Purchased 10,000 shares at $45 per share.
Sept. 29, 2012 ................................... Sold 2,000 shares for $51 per share.
Aug. 17, 2013 ................................... Sold 2,500 shares for $33 per share.
The end-of-year market prices for the shares were as follows:
December 31, 2011 ............................. $47 per share
December 31, 2012 ............................... 39 per share
December 31, 2013 ............................... 31 per share
Instructions:
Prepare the necessary entries for 2011, 2012, and 2013, assuming the NOP stock is classified as a trading security?