Pt b). What is the amount for \"loss on investments?\", and \"equity investments
ID: 2377774 • Letter: P
Question
Pt b). What is the amount for "loss on investments?", and "equity investments?" thanks!
Your answer is partially correct. Try again. On December 21, 2012, Zurich Company provided you with the following information regarding its trading securities. During 2013, Carolina Company stock was sold for dollars 13,220, The fair value of the stock on December 31, 2013, was: Stargate Corp. Stock-dollars 21,460 Vectorman Co. stock-dollars 22,580. Prepare the adjusting journal entry needed on December 31, 2012. Prepare the journal entry to record the sale of the Carolina Company stock during 2013. Prepare the adjusting journal entry needed on December 31, 2013. (Credit account at titles are automatically indented when amount is entered, Do not in dent manually.)Explanation / Answer
b) Cash Dr $13,220
Loss on Investment Dr $510
Equity Investment Cr $13730
Related Questions
Hire Me For All Your Tutoring Needs
Integrity-first tutoring: clear explanations, guidance, and feedback.
Drop an Email at
drjack9650@gmail.com
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.