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Entries for Stock Investments, Dividends, and Sale of Stock Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions
Entries for Stock Investments, Dividends, and Sale of Stock Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year: Feb. 2 Mar. 16 June 7 Purchased for cash 1,350 shares of Wong Inc. stock for $46 per share plus a $675 brokerage commission. Received dividends of $0.20 per share on Wong Inc. stock. Purchased 900 shares of Wong Inc. stock for $54 per share plus a $450 brokerage commission. Sold 1,550 shares of Wong Inc. stock for $59 per share less a $775 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold. July 26 Sept. 25 Received dividends of $0.30 per share on Wong Inc. stock. 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. 2 Investments-Wong Inc. Stock Cash Mar. 16 Cash Dividend Revenue June 7 Investments-Wong Inc. Stock Cash July 26 Cash lll Gain on Sale of Investments 1 lll Investments-Wong Inc. Stock Sept. 25 Cash Dividend Revenue
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