Entries for Investment in Stock, Receipt of Dividends, and Sale of Shares

On February 22, Stewart Corporation acquired 5,300 shares of the 185,000 outstanding shares of Edwards Co. common stock at $23.80 plus commission charges of $1,060. On June 1, a cash dividend of $0.45 per share was received. On November 12, 1,700 shares were sold at $29 less commission charges of $204.

In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar.

a. Using the cost method, journalize the entry for the purchase of stock.

Feb. 22		fill in the blank 1bd12efc6049fc6_2
			fill in the blank 1bd12efc6049fc6_4

b. Using the cost method, journalize the entry for the receipt of dividends.

June 1		fill in the blank a20ddf0b902d000_2
			fill in the blank a20ddf0b902d000_4

c. Using the cost method, journalize the entry for the sale of 1,700 shares.

For a compound transaction, if an amount box does not require an entry, leave it blank.

Nov. 12		fill in the blank 0e4bcd073068079_2	fill in the blank 0e4bcd073068079_3
		fill in the blank 0e4bcd073068079_5	fill in the blank 0e4bcd073068079_6
		fill in the blank 0e4bcd073068079_8	fill in the blank 0e4bcd073068079_9