Question
Teal Mountain Inc. had these transactions pertaining to investments in common stock: Jan. 1 July 1 Dec. 1 Purchased 3,360 shares of Indigo Corporation
Teal Mountain Inc. had these transactions pertaining to investments in common stock: Jan. 1 July 1 Dec. 1 Purchased 3,360 shares of Indigo Corporation common stock (5% of outstanding shares) for $168,000 cash. Received a cash dividend of $7 per share. Sold 2,520 shares of Indigo Corporation common stock for $132,160 cash. Dec. 31 Received a cash dividend of $7 per share.
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
3rd edition
132890542, 978-0132890540
