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On August 1, Dogwood Company Buys 2,000 Ordinary Shares of XYZ

Question 112

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On August 1, Dogwood Company buys 2,000 ordinary shares of XYZ for $61,200 cash. On December 1, the share investments are sold for $72,000 in cash. Which of the following are the correct journal entries to record for the purchase and sale of the shares? On August 1, Dogwood Company buys 2,000 ordinary shares of XYZ for $61,200 cash. On December 1, the share investments are sold for $72,000 in cash. Which of the following are the correct journal entries to record for the purchase and sale of the shares?

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