Spring Inc. had the following transactions pertaining to investments in ordinary shares. Jan.1 Purchased 2,500 ordinary shares
Question:
Spring Inc. had the following transactions pertaining to investments in ordinary shares.
Jan.1 Purchased 2,500 ordinary shares of Angeltide Corporation (5%) for €142,100.
July.1 Received a cash dividend of €3 per share.
Dec.1 Sold 500 ordinary shares of Angeltide Corporation for €31,200.
Dec.31 Received a cash dividend of €3 per share.
Instructions
Journalize the transactions.
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...
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Jan 1 Share Investments 142100 Cash 142100 July 1 Cash 2500 X 3 7500 D...View the full answer
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Related Book For 
Financial Accounting IFRS
ISBN: 978-1118285909
2nd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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