Hagen Company had these transactions pertaining to stock


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Hagen Company had these transactions pertaining to stock investments Feb. 1     Purchased 2,000 shares of Farley Company (10%) for $33,200 cash plus brokerage fees of $800. June 1    Received cash dividends of $2 per share on Farley stock. Oct. 1     Sold 800 shares of Farley stock for $16,000 less brokerage fees of $400. Dec. 1     Received cash dividends of $2 per share on Farley stock. The entry to record the sale of the stock would include a A. debit to Cash for $16,000. B. credit to Gain on Sale of Stock Investments for $800. C. debit to Stock Investment for $13,600. D. credit to Gain on Sale of Stock Investments of $2,000. denizny05
posted a question · Apr 04, 2016 at 3:26am

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