Question
Coronado Company had these transactions pertaining to stock investments: Feb. 1 Purchased 2200 shares of Pearl Company (10%) for $56100 cash. June 1 Received cash
Coronado Company had these transactions pertaining to stock investments: Feb. 1 Purchased 2200 shares of Pearl Company (10%) for $56100 cash. June 1 Received cash dividends of $2 per share on Pearl stock. Oct. 1 Sold 1210 shares of Pearl stock for $32670. The entry to record the purchase of the Pearl stock would include a
| credit to Cash for $50490. |
|
| debit to Investment Expense for $5610. |
|
| debit to Stock Investments for $56100. |
|
| debit to Stock Investments for $50490. |
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Ethics And Auditing
Authors: Tom Campbell, Keith Houghton
1st Edition
1920942254, 978-1920942250
