On August 15, 1,600 shares of Birch Company are acquired at a price of $44 per share plus a $160 brokerage fee On September 10, a $0 75 per share dividend was received on the Birch Company stock On October 5, 500 shares of the Birch Company stock were sold for $35 per share less a $50 brokerage fee...

Aug 15 InvestmentsBirch Company Stock 70560 Cash 70560 160 ...

On August 15, 1,600 shares of Birch Company are acquired at a price of $44 per share

Question:

On August 15, 1,600 shares of Birch Company are acquired at a price of $44 per share plus a $160 brokerage fee. On September 10, a $0.75-per-share was received on the Birch Company stock. On October 5, 500 shares of the Birch Company stock were sold for $35 per share less a $50 brokerage fee. Prepare the journal entries for the original purchase, and sale.

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...