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Unformatted text preview: 15,000 $60,000 Stockholders' Equity: Unrealized Holding Gains On Available- for-Sale Securities 15,000 Income Statement: No effect 2. In 2009 Wild received a $5,000 cash dividend from Cisco. Record this entry. Date (2009) Account Titles and Explanations Debits Credits Aug. 5 Cash 5,000 Dividend income (Cisco) 5,000 3. On October 15, 2009 Wild Company sold all the shares of Mircosoft for $33,000. Make the necessary entry (entries) to record the sale. Date (2009) Account Titles and Explanations Debits Credits October 15 Cash 33,000 Realized Gain on sale of securities $33 - $27 6,000 Investment in Available-for-Sale Securities 27,000 David Hanson 4. At the end of 2009, IBM had a fair market value of $19,000 and Cisco had a fair market value of $22,000. Make the necessary year end journal entry for December 31, 2009....
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This note was uploaded on 02/25/2009 for the course ACC 101 taught by Professor Fried during the Spring '09 term at Coastline Community College.
- Spring '09