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Which is correct journal entry for transaction on january

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Question 1: Wheat Corporation pays? $532,000 for? 100,000 shares to acquire? 45% common stock of Grain? Investments, Inc. on January? 5, 2018. Wheat Corporation sells? 20,000 shares for? $40,000 on January? 6, 2018. Which of the following is the correct journal entry for the transaction on January? 6, 2018?? (Round any intermediate calculations to two decimal? places, and your final answer to the nearest? dollar.)

Option A. Cash ? 106,400

Equity Investments-Grain ?Investments, Inc. 106,400

Option B. Equity Investments-Grain ?Investments, Inc. 106,400

Cash 40,000

Loss on Disposal 66,400

Option C. Equity Investments-Grain ?Investments, Inc. ?106,400

Cash 106,400

Option D. Cash 40,000

Loss on Disposal ?66,400

Equity Investments-Grain ?Investments, Inc. 106,400

Reference no: EM132599409

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