Nosker Inc. had the following transactions pertaining to investments in common stock . Jan. 1 Purchased 2,500
Question:
Jan. 1 Purchased 2,500 shares of Escalante Corporation common stock (5%) for $152,000 cash.
July 1 Received a cash dividend of $3 per share.
Dec. 1 Sold 500 shares of Escalante Corporation common stock for $32,000 cash.
Dec. 31 Received a cash dividend of $3 per share.
Instructions
Journalize the transactions.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Jan 1 Stock Investments 152000 Cash 152000 July 1 Ca...View the full answer
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Related Book For 
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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