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Question: Accounting for trading investments On January 1, 2016, Bark Company invests $11,000 in Iris, Inc. stock. Iris pays Bark a $200 dividend on July 1, 2016. Bark sells the Iris's stock on July 31, 2016, for $11,600. Assume the investment is categorized as a trading investment.

Requirements: 1. Journalize the transactions for Bark's investment in Iris's stock.

2. What was the net effect of the investment on Bark's net income for the year ended December 31, 2016?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92647924

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