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Entries for Equity Investments: Less than 20% Ownership The following equity investment transactions were completed by Vintage Company during a recent year: Apr. 10.
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 2,600 shares of Delew Company's common stock for a price of $45.85 per share plus a brokerage commission of $390. Delew Company has 255,000 shares of common stock outstanding. July 8. Received a quarterly dividend of $0.60 per share on the Delew Company investment. Sept. 10. Sold 1,700 shares for a price of $41 per share less a brokerage commission of $220. Dec. 31. At the end of the accounting period, the fair value of the remaining 900 shares of Delew Company's stock was $45.50 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 Investments-Delew Company Stock Cash 119,600 119,600 - July 8 Dividend Cash Dividend Revenue 1,560 1,560 Sept. 10 - Sale Cash 69,480 Loss on Sale of Investments 8,245 X Investments-Delew Company Stock 77,725 X Dec. 31 Unrealized Loss on Equity Investments Dividend Receivable 315 X 315 X Feedback Check My Work When recording the purchase of the investment, consider the amount of the brokerage commission. Record the revenue earned.
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