Use the following information for questions
Desmond Corporation owns 3,000 of the 10,000 outstanding ordinary shares of Wetmore Corporation.During 2011, Wetmore earned £2,400,000 and paid cash dividends of £800,000.
-Elston Corporation sells 200 ordinary shares being held as an investment.The shares were acquired six months ago at a cost of $30 a share.Elston sold the shares for $40 a share.The entry to record the sale is

Question

Use the following information for questions 
Desmond Corporation owns 3,000 of the 10,000 outstanding ordinary shares of Wetmore Corporation.During 2011, Wetmore earned £2,400,000 and paid cash dividends of £800,000.
-Elston Corporation sells 200 ordinary shares being held as an investment.The shares were acquired six months ago at a cost of $30 a share.Elston sold the shares for $40 a share.The entry to record the sale is

Quizplus · Accepted Answer

The Answer of Use the following information for questions 
Desmond Corporation owns 3,000 of the 10,000 outstanding ordinary shares of Wetmore Corporation.During 2011, Wetmore earned £2,400,000 and paid cash dividends of £800,000.
-Elston Corporation sells 200 ordinary shares being held as an investment.The shares were acquired six months ago at a cost of $30 a share.Elston sold the shares for $40 a share.The entry to record the sale is

Use the Following Information for Questions