Q.23

Help Save & FitSub On January 3, 2021, Roberts Company purchased 30% of the 100.000 shares of common stock of Thomas Corporation, paying $1,500,000. There was no goodwill or other cost allocation associated with the investment. Roberts has significant influence over Thomas. During 2021, Thomas reported net income of $300,000 and paid dividends of $100.000. On January 4, 2022, Roberts sold 15,000 shares for $800,000 What is the appropriate journal entry to record the sale of the 15.000 shares? 800,000 B00.000 800,000 780,000 20,000 800,000 12,000 A) Cash Investment in Thomas B) Cash Investment in Thomas Gain on sale of investment c) Cash Loss on investment Investment in Thomas D) Cash Investment in Thomas Gain on sale of investment E) Cash Loss on sale of investment Investment in Thomas 812,000 800,000 790,000 10,000 800,000 15,000 315,000 Multiple Choice O C Above At Navt > Multiple Choice C Above A Above Above D Above O E Above