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Westbrook Financial Services, Inc. invested $30,000 to acquire 6,000 shares of Cloud Investments, Inc. on March 15, 2015. This investment represents less than 20% of
Westbrook Financial Services, Inc. invested $30,000 to acquire 6,000 shares of Cloud Investments, Inc. on March 15, 2015. This investment represents less than 20% of the investee's voting stock. On May 7, 2018, Westbrook Financial Services, Inc. sells 2,000 shares for $17.250. Which of the following will be the correct Journal entry for the May 7, 2018 transaction? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar) 17.250 10,000.00 7.250.00 17.250 O A. Cash Equity Investments Gain on Disposal OB. Loss on Disposal Equity Investments C. Cash Equity Investments OD. Cash Gain on Disposal 17.250 17,200 17 250 17,250 17.250
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