Question
Aug. 12. Sold 750 shares of Isaacson Co. stock for $32 per share. Oct. 31. Received dividends of $0.50 per share on Tett Co.
Aug. 12. Sold 750 shares of Isaacson Co. stock for $32 per share. Oct. 31. Received dividends of $0.50 per share on Tett Co. stock. Dec. 31. At the end of the accounting period, the fair value of the remaining 600 shares of Tett Co.'s stock was $110 per share. The fair value of the remaining 1,750 shares of Isaacson Co.'s stock was $30 per share. urnalize the entries for these transactions. If an amount box does not require an entry, leave it blank. Feb. 24 Investments-Tett Co. Stock Cash May 16 Investments-Isaacson Co. Stock Cash Buly 14 Cash Gain on Sale of Investments Investments-Tett Co. Stock Aug. 12 Cash Loss on Sale of Investments Investments-Isaacson Co. Stock Oct. 31 Cash Dividend Revenue 85,000 0 0 85,000 92,500 0 0 92,500 40,800 0 6,800 34,000 24,000 0 3,750 0 0 27,750 300 0 0 300 Dec. 31 Valuation Allowance for Equity Investments 15,000 X 0
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