Question

Refer to the information in RE13-7. Assume that on February 1, 2017, Aggie sold its investment in Bike Company stock for $6,400. Prepare the journal entries of Aggie Corporation to record the sale and adjustment of the unrealized gain or loss.
In RE13-7
These securities consisted of (a) Smith Corporation 10%, 5-ycar bonds with a face value of $12,000 which were purchased at par plus four months of accrued interest and (b) 300 shares of Bike Company common stock which were purchased at $20 per share.


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  • CreatedOctober 05, 2015
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