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Entries for Stock Investments, Dividends, and Sale of Stock Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following
Entries for Stock Investments, Dividends, and Sale of Stock
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 600 shares of Tett Co.'s stock for $108 per share plus a $162 brokerage commission. |
May 16 | Acquired 2,100 shares of Issacson Co.'s stock for $31 per share plus a $273 commission. |
July 14 | Sold 200 shares of Tett Co. stock for $120 per share less a $78 brokerage commission. |
Aug. 12 | Sold 800 shares of Issacson Co. stock for $24 per share less a $74 brokerage commission. |
Oct. 31 | Received dividends of $0.42 per share on Tett Co. stock. |
Dec. 31 | At the end of the accounting period, the fair value of the remaining 400 shares of Tett Co.'s stock was $108.47 per share. The fair value of the remaining 1,300 shares of Isaacson Co.'s stock was equal to its cost of $31.13 per share. |
Journalize the entries for these transactions. In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar. If an amount box does not require an entry, leave it blank.
Feb. 24 | fill in the blank 2 | fill in the blank 3 | |
fill in the blank 5 | fill in the blank 6 | ||
May 16 | fill in the blank 8 | fill in the blank 9 | |
fill in the blank 11 | fill in the blank 12 | ||
July 14 | fill in the blank 14 | fill in the blank 15 | |
fill in the blank 17 | fill in the blank 18 | ||
fill in the blank 20 | fill in the blank 21 | ||
Aug. 12 | fill in the blank 23 | fill in the blank 24 | |
fill in the blank 26 | fill in the blank 27 | ||
fill in the blank 29 | fill in the blank 30 | ||
Oct. 31 | fill in the blank 32 | fill in the blank 33 | |
fill in the blank 35 | fill in the blank 36 | ||
Dec. 31 | fill in the blank 38 | fill in the blank 39 | |
fill in the blank 41 | fill in the blank 42 |
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