National Financial Services, Inc. invested $27,000 to acquire 6,000 shares of Stonebridge Investments, Inc. on March...

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National Financial Services, Inc. invested $27,000 to acquire 6,000 shares of Stonebridge Investments, Inc. on March 15, 2015

business accounting

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Answer 1

Answer #1

The Correct answer is option C i.e. gain on Disposal will be credited

The Journal Entry Would be
	Debit	Credit
Cash	14250
Long term investment available for sale ($27,000/6000*2000)		9000
Gain on Disposal (Balancing Figure)		5250

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Answer 2

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National Financial Services, Inc. invested $27,000 to acquire 6,000 shares of Stonebridge Investments, Inc. on March...

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Add Answer to: National Financial Services, Inc. invested $27,000 to acquire 6,000 shares of Stonebridge Investments, Inc. on March...

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Earn Coins

2. World-wide Financial Services, Inc. invested $27,000 to acquire 4000 shares of Dawn Investments, Inc. on...

Amazon Services, Inc. invests its excess cash in Nile Technologies, Inc. and acquires 3,000 shares for...

Leonard Technologies invests $68,000 to acquire $68,000 face value, 12%, five-year corporate bonds on December 31,...

Add Answer to:
National Financial Services, Inc. invested $27,000 to acquire 6,000 shares of Stonebridge Investments, Inc. on March...