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During the course of your examination of the financial statements of Bubbler Corporation for the year ended December 31, 2015, you found a new account,
During the course of your examination of the financial statements of Bubbler Corporation for the year ended December 31, 2015, you found a new account, "Investments." Your examination revealed that during 2015, Bubbler began a program of investments, and all investment-related transactions were entered in this account. Your analysis of this account for 2015 follows: Bubbler Corporation Analysis of Investments Harmon Company Common Stock Feb. 14 Purchased 4,000 shares @ $55 per share.$220,000 July 26 Received 400 shares of Harmon Company common stock as a stock dividend. (Memorandum entry in general ledger.) Sept.28 Sold the 400 shares of Harmon Company common stock received July 26 @ $60 per share. $24,000 Taber Inc.. Common Stock Apr. 30 Purchased 20,000 shares @ $40 per share.$800,000 Oct. 28 Received dividend of $1 per share. $20,000
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