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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 | Purchased for cash 700 shares of Wong Inc. stock for $59 per share plus a $350 brokerage commission. |
Mar. 16 | Received dividends of $0.30 per share on Wong Inc. stock. |
June 7 | Purchased 500 shares of Wong Inc. stock for $69 per share plus a $250 brokerage commission. |
July 26 | Sold 850 shares of Wong Inc. stock for $74 per share less a $425 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold. |
Sept. 25 | Received dividends of $0.40 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 | ||
Gain on Sale of Investments | |||
Investments-Wong Inc. Stock | |||
Sept. 25 | Cash | ||
Dividend Revenue |
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