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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 800 shares of Tett Co. stock for $153 per share plus a $216 brokerage commission. |
May 16 | Acquired 1,400 shares of Issacson Co. stock for $44 per share plus a $182 commission. |
July 14 | Sold 300 shares of Tett Co. stock for $170 per share less a $111 brokerage commission. |
Aug. 12 | Sold 500 shares of Issacson Co. stock for $35 per share less a $109 brokerage commission. |
Oct. 31 | Received dividends of $0.32 per share on Tett Co. stock. |
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. For a compound transaction, if an amount box does not require an entry, leave it blank.
Feb. 24 May 16 July 14 Aug. 12 Oct. 31Step by Step Solution
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