On August 16, 2015, Blenim Corp. purchases 6,000 shares of common stock in Mountain Inc. at a market price of
$17 per share. In addition, Blenim pays brokerage fees of $2,000. On October 21, 2015, Blenim sells the Mountain stock for $12 per share.
REQUIRED:
Identify the effects on the accounting equation in connection with Blenim's investment beginning with
the purchase of the common stock on August 16, 2015, and the sale on October 21, 2015.

Question

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The Answer of On August 16, 2015, Blenim Corp. purchases 6,000 shares of common stock in Mountain Inc. at a market price of
$17 per share. In addition, Blenim pays brokerage fees of $2,000. On October 21, 2015, Blenim sells the Mountain stock for $12 per share.
REQUIRED:
Identify the effects on the accounting equation in connection with Blenim's investment beginning with
the purchase of the common stock on August 16, 2015, and the sale on October 21, 2015.