On February 27, Ball Corporation acquired 3,000 shares of the 50,000 outstanding shares of Beach Co common stock at 40 75 plus commission charges of $150 On July 8, a cash dividend of $1 50 per share and a 2 stock dividend were received On December 7, 1,000 shares were sold at 49, less commission c...

a Investment in Beach Co Stock 122400 Cash 122400 b Cas ...

On February 27, Ball Corporation acquired 3,000 shares of the 50,000 outstanding shares of Beach Co. common

Question:

On February 27, Ball acquired 3,000 shares of the 50,000 outstanding shares of Beach Co. at 40.75 plus commission charges of $150. On July 8, a cash of $1.50 per share and a 2% stock were received. On December 7, 1,000 shares were sold at 49, less commission charges of $60. Prepare the entries to record
(a) The purchase of the stock,
(b) The receipt of dividends, and
(c) The sale of the 1,000 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...