REQUIRED: d. On March 14, 2021, Castle sold 800 shares of C Company for $18 per share. Prepare the journal entry to record the sale.
REQUIRED: d. On March 14, 2021, Castle sold 800 shares of C Company for $18 per share. Prepare the journal entry to record the sale.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...
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REQUIRED:
d. On March 14, 2021, Castle sold 800 shares of C Company for $18 per share. Prepare the
![1. On January 3, 2020, Castle Corporation purchased the following equity securities as an investment:
Number of
Cost of
Total
Company
Shares
Share
$20
Cost
$ 8,000
24,000
400
B
2,000
12
800
22
17,600
These securities are classified as available for sale.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe4067b59-ebc2-4dec-9eef-9c9bf4f1eacf%2F21beda06-ea1e-4f5a-8011-79f2523e990c%2Fx3tnjb9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1. On January 3, 2020, Castle Corporation purchased the following equity securities as an investment:
Number of
Cost of
Total
Company
Shares
Share
$20
Cost
$ 8,000
24,000
400
B
2,000
12
800
22
17,600
These securities are classified as available for sale.
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