Oregon Co. had purchased 200 shares of Washington Co. for $40 each this year (Oregon Co. does
Question:
Oregon Co. had purchased 200 shares of Washington Co. for $40 each this year (Oregon Co. does not have significant influence). Oregon Co. sold 100 shares of Washington Co. stock for $45 each. At year-end, the price per share of the Washington Co. stock had dropped to $35.
Instructions
Prepare the journal entries for these transactions and any year-end adjustments.
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1 Equity Investments 8000 Cash 200 shares X 40 8000 2 Cash 100 sh...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-1119503668
17th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel
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