Homework Answers
| Cash/Bank (1500 shares * 140) Dr | 210000 | |
| Loss On Sale of Investment (Balancing figure) Dr | 22500 | |
| To Short Term Investment (1500*155) | 232500 | |
| (Being Short Term Investment sold at a loss) |
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5) 7 Sokoto Corporation sells 1500 shares of common stock being held as a short-term investment....
Sokoto Corporation sells 1500 shares of common stock being held as a short-term investment. The shares...
Sokoto Corporation sells 1500 shares of common stock being held as a short-term investment. The shares were acquired six months ago at a cost of $155 a share. Sokoto sold the shares for $140 a share. The entry to record the sale is a.Cash210,000 Loss on Sale of Stock Investments22,500 Stock Investments232,500 b.Cash227,500 Gain on Sale of Stock Investments7,500 Stock Investments220,000 c.Cash210,000 Stock Investments210,000 d.Stock Investments220,000 Loss on Sale of Stock Investments7,500 Cash227,000
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Treasury Stock Coastal Corporation issued 25,000 shares of $6 par value common stock at $18 per...
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American Surety and Fidelity buys and sells securities expecting to earn profits on short-term differences in...
American Surety and Fidelity buys and sells securities expecting
to earn profits on short-term differences in price. For the first
11 months of 2018, gains from selling trading securities totaled $4
million, losses were $11 million, and the company had earned $5
million in investment revenue. The following selected transactions
relate to American's trading account and equity securities
investment account during December 2018, and the first week of
2019. The company's fiscal year ends on December 31. No trading
securities...
For several years Fister Links Products has held shares of Microsoft common stock, considered by the...
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2019. The company's fiscal year ends on December 31. No trading
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