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Oct. 1 Sold 1,200 shares of Norton stock for $24,000 less
brokerage fees of $600.
The entry to record the purchase of the Norton stock would
include a
credit to Cash for $48,800.
debit to Stock Investments for $48,800.
debit to Stock Investments for $50,200.
debit to Investment Expense for $1,400.
7-
Multiple Choice Question 94
Mission Inc. earns $450,000 and pays cash dividends of $150,000
during 2013. Cox Corporation owns 70,000 of the 210,000
outstanding shares of Mission.
How much revenue from investment should Cox report in 2013?
$150,000
$200,000
$50,000
$100,000
8-
Multiple Choice Question 138
Which of the following reasons best explains why a company that
experiences seasonal fluctuations in sales may purchase
investments in debt or stock securities?
The company may have excess cash.