Question
Entries for Equity Investments: Less than 20% Ownership The following equity investment transactions were completed by Vintage Company during a recent year: Apr. 10. Purchased
Entries for Equity Investments: Less than 20% Ownership
The following equity investment transactions were completed by Vintage Company during a recent year:
Apr. | 10. | Purchased 2,500 shares of Delew Companys common stock for a price of $61.5 per share plus a brokerage commission of $1,250. Delew Company has 255,000 shares of common stock outstanding. |
July | 8. | Received a quarterly dividend of $0.25 per share on the Delew Company investment. |
Sept. | 10. | Sold 1,700 shares for a price of $55 per share less a brokerage commission of $700. |
Dec. | 31. | At the end of the accounting period, the fair value of the remaining 800 shares of Delew Companys stock was $61.50 per share. |
Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. If required, round the final answers to the nearest dollar.
Apr. 10 - Purchase | CashDividend ReceivableDividend RevenueInvestments-Delew Company StockNotes Receivable | - Select - | - Select - |
CashDividend ReceivableDividend RevenueInvestments-Delew Company StockNotes Receivable | - Select - | - Select - | |
July 8 - Dividend | CashDividend ReceivableDividend RevenueInterest ReceivableInvestments-Delew Company Stock | - Select - | - Select - |
CashDividend ReceivableDividend RevenueInvestments-Delew Company StockNotes Receivable | - Select - | - Select - | |
Sept. 10 - Sale | CashDividend ReceivableDividend RevenueGain on Sale of InvestmentsInvestments-Delew Company Stock | - Select - | - Select - |
Cash DividendGain on Sale of InvestmentsInvestments-Delew Company StockLoss on Sale of InvestmentsNotes Receivable | - Select - | - Select - | |
CashDividend RevenueGain on Sale of InvestmentsInvestments-Delew Company StockLoss on Sale of Investments | - Select - | - Select - | |
Dec. 31 | CashDividend ReceivableUnrealized Gain on Equity InvestmentsUnrealized Loss on Equity InvestmentsValuation Allowance for Equity Investments | - Select - | - Select - |
CashDividend ReceivableUnrealized Gain on Equity InvestmentsUnrealized Loss on Equity InvestmentsValuation Allowance for Equity Investments | - Select - | - Select - |
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