On July 1, 1999, Tam Company purchased 200 shares of Del Company capital stock as a temporary

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On July 1, 1999, Tam Company purchased 200 shares of Del Company capital stock as a temporary investment (trading securities) at \(\$ 676.80\) per share plus a commission of \(\$ 720\). On July 15 , a \(10 \%\) stock dividend was received. Tam received a cash dividend of \(\$ 3.60\) per share on August 12, 1999. On November 1, Tam sold all of the shares for \(\$ 835.20\) per share, less a commission of \(\$ 720\). Prepare entries to record all of these transactions in Tam Company's accounts.

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Financial Accounting A Business Perspective

ISBN: 9780072289985

7th Edition

Authors: Roger H. Hermanson, James Don Edwards

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