Marigold Corporation sells 530 shares of common stock being held as a short-term investment. The shares were acquired six months ago at a cost of $57 a share. Alistair sold the shares for $39 a share. The entry to record the sale is Stock Investments 20670 Loss on Sale of Stock Investments 9540 Cash 29680 Cash 20670 Stock Investments 20670 Cash 20670 Loss on Sale of Stock Investments 9540 Stock Investments 30210 Cash 30210 Gain on Sale of Stock Investments 9540 Stock Investments 20670

Marigold Corporation sells 530 shares of common stock being held as a short-term investment. The shares were acquired six months ago at a cost of $57 a share. Alistair sold the shares for $39 a share. The entry to record the sale is Stock Investments 20670 Loss on Sale of Stock Investments 9540 Cash 29680 Cash 20670 Stock Investments 20670 Cash 20670 Loss on Sale of Stock Investments 9540 Stock Investments 30210 Cash 30210 Gain on Sale of Stock Investments 9540 Stock Investments 20670

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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