Question
CY Corporation purchases 10,000 shares of KCM Company for $16 per share. The company pays a brokerage fee of $1,500. The shares are classified as
CY Corporation purchases 10,000 shares of KCM Company for $16 per share. The company pays a brokerage fee of $1,500. The shares are classified as FVOCI. Required: Prepare the journal entry to record the purchase of shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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Forensic And Investigative Accounting
Authors: Crumbley D. Larry, Fenton Edmund D., Jr. Smith G. Stevenson
9th Edition
0808053221, 9780808053224
