# Problem solving ima fsa solution 89000 cost 91 hardin

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Problem Solving, IMA: FSASolution: \$89,000 cost91.Hardin Park Company had these transactions pertaining to stock investmentsFeb. 1Purchased 5,000 shares of Raley Company (10%) for \$89,000 cash.June 1Received cash dividends of \$1 per share on Raley stock.Oct. 1Sold 2,000 shares of Raley stock for \$39,000.Dec. 1Received cash dividends of \$2 per share on Raley stock.The entry to record the receipt of the dividends June 1 would include aa.debit to Stock Investments of \$5,000.b.credit to Dividend Revenue of \$5,000.c.debit to Dividend Revenue of \$5,000.d.credit to the Stock Investments of \$5,000.Ans: B, LO: 2, Bloom: AP, Difficulty: Medium, Min: 3, AACSB: Analytic, AICPA BB: Legal/Regulatory Perspective, AICPA FC: Measurement, AICPA PC:Problem Solving, IMA: FSASolution: \$5,000 × \$1\$5,000(sh. purch.× div./sh.)H-22
92.Hardin Park Company had these transactions pertaining to stock investmentsFeb. 1Purchased 5,000 shares of Raley Company (10%) for \$89,000 cash.June 1Received cash dividends of \$1 per share on Raley stock.Oct. 1Sold 2,000 shares of Raley stock for \$39,000.Dec. 1Received cash dividends of \$2 per share on Raley stock.The entry to record the sale of the stock would include a
93.Hardin Park Company had these transactions pertaining to stock investmentsFOR INSTRUCTOR USE ONLY
Reporting and Analyzing InvestmentsFeb. 1Purchased 5,000 shares of Raley Company (10%) for \$89,000 cash.June 1Received cash dividends of \$1 per share on Raley stock.Oct. 1Sold 2,000 shares of Raley stock for \$39,000.Dec. 1Received cash dividends of \$2 per share on Raley stock.The entry to record the receipt of the dividends Dec. 1 would include a

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