On February 22, Stewart Corporation acquired 12,000 shares of the 400,000 outstanding shares of Edwards Co common stock at $50 plus commission charges of $120 On June 1, a cash dividend of $1 40 per share was received On November 12, 4,000 shares were sold at $62 less commission charges of $100 Usi...

a Feb 22 Investments x Edwards Co Stock 600120 Cash 600120 12000 ...

On February 22, Stewart Corporation acquired 12,000 shares of the 400,000 outstanding shares of Edwards Co. common

Question:

On February 22, Stewart acquired 12,000 shares of the 400,000 outstanding shares of Edwards Co. at $50 plus commission charges of $120. On June 1, a cash of $1.40 per share was received. On November 12, 4,000 shares were sold at $62 less commission charges of $100.
Using the cost method, journalize the entries for
(a) The purchase of stock,
(b) The receipt of dividends,
(c) The sale of 4,000 shares.
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...