Investments - Solution Guide to Week 3: Chapter 16 EXERCISE...

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Solution Guide to Week 3: Chapter 16 EXERCISE 16-5 Jan. 1 Stock Investments 142,100 Cash ($140,000 + $2,100) 142,100 July 1 Cash (2,500 X $3) 7,500 Dividend Revenue 7,500 Dec. 1 Cash ($32,000 – $800) 31,200 Stock Investments ($142,100 X 1/5) 28,420 Gain on Sale of Stock Investments 2,780 Dec. 31 Cash (2,000 X $3) 6,000 Dividend Revenue 6,000
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EXERCISE 16-6 February 1 Stock Investments 15,400 Cash [(500 X $30) + $400] 15,400 March 20 Cash ($2,900 – $50) 2,850 Loss on Sale of Stock Investments 230 Stock Investments ($15,400 X 100/500) 3,080 April 25 Cash (400 X $1.00) 400 Dividend Revenue 400 June 15 Cash ($7,400 – $90) 7,310 Stock Investments ($15,400 X 200/500) 6,160 Gain on Sale of Stock Investments 1,150 July 28 Cash (200 X $1.25) 250 Dividend Revenue 250
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EXERCISE 16-7 (a) Jan. 1 Stock Investments 180,000 Cash 180,000 Dec. 31 Cash ($60,000 X 25%) 15,000 Stock Investments 15,000 31 Stock Investments 50,000 Revenue from Investment in Connors Corp. ($200,000 X 25%)
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Investments - Solution Guide to Week 3: Chapter 16 EXERCISE...

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