Essay
Landers,Inc.,held 1,500 of Shipman Company common stock with a cost of $36,900.The investment is considered a stock investment with insignificant influence.Landers sold the shares on December 13 for $42,100 cash.Prepare Lander's journal entry to record this sale.
Correct Answer:

Verified
Correct Answer:
Verified
Q16: Lessington Corporation purchases 4,000 shares of Gonzalez
Q17: Available-for-sale securities are reported at fair value
Q18: Arkansana Inc.imports inventory from Costa Rica.Prepare the
Q19: Landmark Corp.buys $300,000 of Schroeter Company's 8%,5-year
Q20: What are the accounting basics for equity
Q22: On February 15,Jewel Company buys 7,000 shares
Q23: A company has an investment in 9%
Q24: Roe Corporation owns 2,000 shares of WRJ
Q96: Kim Manufacturing purchased on credit £20,000 worth
Q129: At the end of the accounting period,the