On September 15, 2012, Wong Ltd Sells 100 Common Shares

question 33

Short Answer

On September 15, 2012, Wong Ltd sells 100 common shares of Tong Corp, which were being held as a trading investment. The shares were acquired six months ago at $100 a share. Wong sells the shares for $80 a share. The entry to record the sale is

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Definitions:

Wireless Network Connections

Connections between devices that communicate and exchange data without physical wires, using radio frequency signals.

Wired Broadband Connections

High-speed internet connections transmitted over physical wires or cables, offering stable and fast online access.

Internet

The vast network that connects millions of computers globally, enabling them to communicate and share information instantly.

WAN

Wide Area Network, a telecommunications network that extends over a large geographic area for the purpose of computer networking.