Browne Corporation sells 200 shares of common stock being held as an investment. The shares were acquired six? and Documenting Save Darfur protest at Franklin Templeton Investments

Browne Corporation sells 200 shares of common stock being held as an investment. The shares were acquired six?

Browne Corporation sells 200 shares of common stock being held as an investment. The shares were acquired six months ago at a cost of $ 50 a share, Browne sold the shares for $ 40 a share. The entry to record the sale is

A.
Cash...8,000
Loss on Sale of Stock Investments...2,000
___Stock Investments...10,000

B.
Cash...10,000
___Gain on Sale of Stock Investments...2,000
___Stock Investments...8,000

C.
Cash...8,000
___Stock Investments...8,000

D.
Stock Investments...8,000
Loss on Sale of Stock Investments...2,000
___Cash...10,000


Investment best answer:

Answer by Coco
A.
Cash...8,000
Loss on Sale of Stock Investments...2,000
___Stock Investments...10,000


Dr Cash 8,000 (200 x $ 40)
Dr Loss on sale of stock investment 2,000 (10,000 - 8,000)
Cr Stock investment 10,000 (200 x $ 50)

Investment

Documenting Save Darfur protest at Franklin Templeton Investments


Image by Steve Rhodes

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Orignal From: Browne Corporation sells 200 shares of common stock being held as an investment. The shares were acquired six? and Documenting Save Darfur protest at Franklin Templeton Investments