P17-3 (Available-for-Sale Investments) Cardinal Paz Corp. carries an account
in its general ledger called Investments, which contained debits for investment
purchases, and no credits, with the following descriptions.
Feb. 1, 2012 Sharapova Company common
Chapter 15 Practice Problems with solutions
1. Rensing, Inc., has $800,000 of 8% preferred stock and $1,200,000 of common stock outstanding, each
having a par value of $10 per share. No dividends have been paid or declared during 2009 and 2010. As