Question
Prepare Journal Entries for the following transactions. 10/01 Purchased $18,000 (with cash) of an investment in another companys (Pear Inc.) stock. Purchased $25,000 in bonds
Prepare Journal Entries for the following transactions.
10/01 Purchased $18,000 (with cash) of an investment in another companys (Pear Inc.) stock. Purchased $25,000 in bonds of Pear (not considered trading)
12/31 Determined that the stock purchased on 10/1 was now worth $16,000. However, the stock was not sold. Determined the bonds were worth 12,000.
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Auditing Theory And Practice
Authors: Arun Kumar & Rachana Sharma
1st Edition
8171567207, 978-8171567201
