The following equity investment transactions were completed by Vintage Company during a recent year: Apr. 10. Purchased
Question:
The following equity investment transactions were completed by Vintage Company during a recent year:
Apr. 10. Purchased 11,000 shares of Delew Company’s common stock for a price of $60 per share plus a brokerage commission of $220. Delew Company has 250,000 shares of common stock outstanding.
July 8. Received a quarterly dividend of $0.85 per share on the Delew Company investment.
Sept. 10. Sold 3,000 shares for a price of $54 per share less a brokerage commission of $90.
Dec. 31. At the end of the accounting period, the fair value of the remaining 8,000 shares of Delew Company’s stock was $59.90 per share.
Journalize the entries for these transactions.
Step by Step Answer:
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider