Beak Corporation Sells 200 Shares of Common Stock Being Held $\quad$

question 125

Short Answer

Beak Corporation sells 200 shares of common stock being held as an investment. The shares were acquired six months ago at a cost of $25 a share. Beak sold the shares for $40 a share. The entry to record the sale is a. Cash $\quad$$\quad$ 5,000
$\quad$ Loss on Sale of Stock Investments $\quad$ 3,000
$\quad$ Stock Investments $\quad$$\quad$ 8,000
b. Stock Investments $\quad$$\quad$ 8,000
$\quad$ Cash $\quad$$\quad$ 8,000
c. Cash. $\quad$$\quad$ 8,000
$\quad$ Gain on Sale of Stock Investments $\quad$ 3,000
$\quad$ Stock Investments $\quad$$\quad$ 5,000
d. Cash $\quad$$\quad$ 8,000
$\quad$ Stock Investments $\quad$$\quad$ 8,000

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Definitions:

Pessimists

Individuals who tend to see the worst aspect of things or believe that the worst will happen; a tendency to expect negative outcomes.

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Constructive criticism or positive reinforcement aimed at encouraging a change in behavior or attitude.

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Employee

An individual who is hired to perform tasks or services for an employer under agreed terms and conditions.