Chapter 1 Problem 10-4
July 15 Cash 25,000
Dividend income (5,000 shares x 5) 25,000
Dec. 15 Memo – Received 1,000 shares representing 20%
stock dividend on 5,000 original shares held.
28 Cash (3,000 shares x 60) 180,000
Investment in equity securities 133,000
Gain on sale of investment 47,000
Lot No. 1 (2,400 shares) 100,000
Lot No. 2 (600/3,600 x 198,000) 33,000
Cost of investment sold 133,000
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