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Cantor Corporation 80,000 76,000
$186,400 $181,800
In the following year, the Barnes common stock is sold for cash
proceeds of $56,000. The gain or loss to be recognized on the sale is a
loss of $4,000.
gain of $1,200.
gain of $200.
loss of $4,200.
4Multiple Choice Question 40
At the time of acquisition of a debt investment,
the Stock Investments account is debited when bonds are purchased.
the Investment account is credited for its cost plus brokerage fees.
no journal entry is required.
the cost principle applies.
5Multiple Choice Question 79
The account, Stock Investments, is
a general ledger control account.
another name for Debt Investments.
a subsidiary ledger account.