..... ... .. On February 1 Mini Company purchased 1.000 shares...
60.1K
Verified Solution
Link Copied!
Question
Accounting
..... ... ..
On February 1 Mini Company purchased 1.000 shares (2% ownership of Win Company common stock for $30 per share. The shares are classified as a short-term investment On March 20, Mini Company sold 200 shares of Win stock for 55.800. Mini received a dividend of $1 per share on April 25. The fair value of the remaining stock is $26.400 on June 30. To record the initial purchase of the shares, Mini would debit O Common Stock in the amount of $30,000 Stock Investments in the amount of 30,000 Investment Expense in the amount of $30,000 Cash in the amount of $30.000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
