Business, 06.11.2019 23:31 kaylaciamp65

On january 4, year 1, barber company purchased 13,500 shares of convell company for $162,000 plus a broker's fee of $4,400. convell company has a total of 67,500 shares of common stock outstanding and it is presumed the barber company will have a significant influence over convell. during each of the next two years, convell declared and pald cash dividends of $0.75 per share, and its net income was $123,000 and $118,000 for year 1 and year 2, respectively. the january 12, year 3, entry to record barber's sale of 8100 shares of convell company stock, which represents 60% of barber's total investment, for $109,350 cash should be: multiple cholce deblt cash $109,350; debit loss on sale of investment $57050; credit long-term investments debit cash $109,350: debit loss on sale of investment $20,250: credit long-term investments $129,600. debit cash $109,350: debit loss on sale of investment $7.260: credit long-term investments $116.610. debit cash $109,350; credit galn on sale of investment $9.510: credit long-term investments $99.840. debit cash $109,350: credit galn on sale of investment $20.250: credit long-term investments

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On january 4, year 1, barber company purchased 13,500 shares of convell company for $162,000 plus a...

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