PROBLEMS H3 and H4 Solutions

Accounting: Tools for Business Decision Making

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(a) 2007 July 1 Cash (6,000 X $2.00). ............................... 12,000 Dividend Revenue. .............................. 12,000 Aug. 1 Cash (1,000 X $0.50). ............................... 500 Dividend Revenue. .............................. 500 Sept. 1 Cash [(500 X $8) – $100]. ......................... 3,900 Stock Investments (500 X $6). ............ 3,000 Gain on Sale of Stock Investments. .................................... 900 Oct. 1 Cash [(400 X $54) – $600]. ....................... 21,000 Gain on Sale of Stock Investments [$21,000 – (400 X $50)]. .................. 1,000 Stock Investments (400 X $50). ......... 20,000 Nov. 1 Cash (1,200 X $1). .................................... 1,200 Dividend Revenue. .............................. 1,200 Dec. 15 Cash (600 X $0.50). .................................. 300 Dividend Revenue. .............................. 300 31 Cash (5,500 X $2.00). ............................... 11,000 Dividend Revenue. .............................. 11,000
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PROBLEMS H3 and H4 Solutions - PROBLEM H-3 (a) 2007 July 1...

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