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Entries for equity Investments: less than 20% ownership Seamus Industries Inc buys and sells investments as part of its ongoing cash management. The following Investment

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Entries for equity Investments: less than 20% ownership Seamus Industries Inc buys and sells investments as part of its ongoing cash management. The following Investment transactions were completed during the year Feb. 24 Acquired 1,000 shares of Tett co's common stock for sos per share plus a $150 brokerage commission May 16 Acquired 2,500 shares of Issocson Co.'s common stock for $36 per share plus a $100 commission July 24 Sold 400 shares of Tett Co, stock for $100 per share less a s7s brokerage commission Aug. 12 Sold 750 shares of Insation Co. stock for $32,50 per share less an svo brokerage commission. Oct. 31 Received dividends of $0.40 per share on TattCo stock. Dec. 31 At the end of the accounting period, the fair value of the remaining 600 shares of Tett Co.'s stock was $85.35 per share. The fale value of the remaining 1,750 shares of Isaacson Co.'s stock was equal to its cost of $36.04 per share Journalize the entries for these transactions. In your computations, round per share amounts to nearest dollar. If an amount box does not require an entry, leave it blank. Feb. 24 Investments-Tett Co. Stock 85,150 Cash 85,150 May 16 Investments-Issacson Co. Stock 90,100 Cash 90,100 July 14 Cash 39,925 Gain on Sale of Investments 34,060 X Investments-Tett Co. Stock 5,865 X Cash Aug. 12 24,295 Loss on Sale of Investments 2,735 Investments-Issacson Co. Stock 27,030 Oct. 31 Cash Dividend Revenue ll du 1001 Valuation Allowance for Equity Investments Dec. 31 Unrealized Gain on Equity Investments

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