During January 2011, Aragorn Inc. purchased the following securities: During 2011, Aragorn received interest from Mirkwood and
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During 2011, Aragorn received interest from Mirkwood and the U.S. Treasury totaling $3,630. Dividends received on the stock held amounted to $1,760. During November 2011, Aragorn sold 200 shares of the Gimli stock at $17 per share and 250 shares of the Glorfindel stock at $19 per share. Give the journal entries required by Aragorn to record the
(1) Purchase of the debt and equity securities;
(2) Receipt of interest and dividends during 2011; and
(3) Sale of the equity securities duringNovember.
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Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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