Question
Swifty Co. had purchased 240 shares of Washington Co. for $41 each this year (Oregon Co. does not have significant influence). Swifty Co. sold 120
Swifty Co. had purchased 240 shares of Washington Co. for $41 each this year (Oregon Co. does not have significant influence). Swifty Co. sold 120 shares of Washington Co. stock for $46 each. At year-end, the price per share of the Washington Co. stock had dropped to $37. Prepare the journal entries for these transactions and any year-end adjustments.
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Financial Accounting
Authors: Dr Carl S. Warren, Dr James M. Reeve, Philip E. Fess
9th Edition
032418803X, 978-0324188035
