Prepare the journal entries to account for the following investment transactions of Samuelson Company: 2011 July 1

Question:

Prepare the journal entries to account for the following investment transactions of Samuelson Company:
2011
July 1 Purchased 350 shares of Bateman Company stock at $22 per share plus a brokerage fee of $600. The Bateman stock is classified as trading.
Oct. 31 Received a cash of $2.00 per share on the Bateman stock.
Dec. 31 At year-end, Bateman stock had a market price of $19 per share.
2012
Feb. 20 Sold 175 shares of the Bateman stock for $26 per share.
Oct. 31 Received a cash of $2.20 per share on the Bateman stock.
Dec. 31 At year-end, Bateman stock had a market price of $29 per share.

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...