Hermes Inc. had the following transactions pertaining to investments in common stock. Instructions Journalize the transactions. Jan.
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Hermes Inc. had the following transactions pertaining to investments in common stock.
Instructions Journalize the transactions.
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Jan. Purchased 2.000 shares of Lanier Corporation common stock (5%) for $140,000 cash plus $2.100 broker's commission. July Dec. 1 Received a cash dividend of $3 per share. Sold 500 shares of Lanier Corporation common stock for $37,000 cash, less $800 bro- ker's commission. Dec. 31 Received a cash dividend of $3 per share.
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Related Book For
Financial Accounting Text Only
ISBN: 9780006575405
5th Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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