Question

On January 1, 2016, Maple Company invests $16,000 in Sprouts, Inc. stock. Sprouts pay Maple a $300 dividend on August 1, 2016. Maple sells the Sprouts’s stock on August 31, 2016, for $16,500. Assume the investment is categorized as a trading investment.
Requirements
1. Journalize the transactions for Maple’s investment in Sprouts’s stock.
J2i81S0 201&06/10 202-142-167.206
2. What was the net effect of the investment on Maple’s net income for the year ended December 31, 2016?


$1.99
Sales0
Views53
Comments0
  • CreatedJune 15, 2015
  • Files Included
Post your question
5000