Spring Inc had the following transactions pertaining to investments in common stock Jan 1 Purchased 2,500 shares of Angeltide Corporation common stock (5 ) for $140,000 cash plus $2,100 brokers commission July 1 Received a cash dividend of $3 per share Dec 1 Sold 500 shares of Angeltide Corporation...

Jan 1 Stock Investments 142100 Cash 140000 2100 142100 Ju ...

Spring Inc. had the following transactions pertaining to investments in common stock . Jan. 1 Purchased 2,500

Question:

Spring Inc. had the following transactions pertaining to investments in .
Jan. 1 Purchased 2,500 shares of Angeltide (5%) for $140,000 cash plus $2,100 broker’s commission.
July 1 Received a cash of $3 per share.
Dec. 1 Sold 500 shares of Angeltide for $32,000 cash, less $800 broker’s commission.
Dec. 31 Received a cash 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...