Blaine Company Had These Transactions Pertaining to Stock Investments: Feb

question 100

Multiple Choice

Blaine Company had these transactions pertaining to stock investments: Feb. 1 Purchased 2,000 shares of Norton Company (10%) for $51,000.
June 1 Received cash dividends of $2 per share on Horton stock.
Oct) 1 Sold 1,200 shares of Horton stock for $32,400.
The entry to record the sale of the stock would include a

• A)debit to Cash for $30,600.
• B)credit to Gain on Sale of Stock Investments for $1,200.
• C)debit to Stock Investments for $30,600.
• D)credit to Gain on Sale of Stock Investments for $1,800.

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Definitions:

Multiple Organ Failures

A critical condition where two or more systems in the body fail simultaneously, often as a result of severe illness or injury.

Body Dysmorphic Disorder

A mental health disorder involving obsessive focus on a perceived flaw in appearance, often leading to significant distress and impairment in daily functioning.

Acute Stress Disorder

A mental condition that develops shortly after exposure to a traumatic event, characterized by symptoms such as distress, avoidance, and flashbacks.

Dissociative Identity Disorder

A psychological condition where a person exhibits two or more distinct and alternating personalities.