HansIncorporated buys and sells securities expecting to earn profits on short-term differences in price. They had the following transactions during 2019:

April 1 Purchased 100,000 shares of Apple stock for $1,600,000 June 1 Received cash dividend of $20,000 from Apple Dec 31Thestock price of the Apple was $18.50 per share on December 31st. Required: Record the April 1st and June 1st transactions. Make any necessary adjusting entry at the end of the fiscal year December 31, 2019 due to the change in stock price

HansIncorporated pays employees monthly. Payroll information is listed below for August 2019.

Salaries $500,000 Federal income taxes to be withheld $100,000 Federal unemployment tax rate .60% State unemployment tax rate 5.4% Social Security tax rate 6.2% Medicare tax rate 1.45% Required: Prepare the appropriate journal entries to record salaries and wages expense and payroll tax expense for the August 2019 pay period.