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- Here is Sheridan Company's portfolio of long - term stock investments at December 3 1 , 2 0 2 1 , the end of
Here is Sheridan Company's portfolio of longterm stock investments at December the end of its first year of operations.
On December the total cost of the portfolio equaled the total fair value. Sheridan had the following transactions related to the
securities during
Jan. Sold shares of Batone Inc. common stock at $ per share.
Purchased shares of $ par value common stock of P Wahl Corporation at $ per share.
Received a cash dividend of $ per share on Mendez Corporation common stock.
Feb. Received cash dividends of $ per share on P Tillman Corporation preferred stock.
Sold all shares of P Tillman preferred stock at $ per share.
July Received a cash dividend of $ per share on Mendez Corporation common stock.
Sept. Purchased an additional shares of the $ par value common stock of Wahl Corporation at $ per share.
Dec. Received a cash dividend of $ per share on Wahl Corporation common stock.
At December the fair values of the securities were:
Mendez Corporation common stock
$ per share
P Wahl Corporation common stock
$ per share
Sheridan uses separate account titles for each investment, such as Investment in Mendez Corporation Common Stock.
a
Prepare journal entries to record the transactions. Record journal entries in the order presented in the problem. Credit account titles
are automatically indented when the amount is
entered.Do not indent manually. If no entry is required, select No Entry" for the account
titles and enter for the amounts.
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