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Here is the problem: On June 22, 2019, Porus Company acquired 2,000 shares of Saul Company $20 par value capital stock at $70 per share
Here is the problem: On June 22, 2019, Porus Company acquired 2,000 shares of Saul Company $20 par value capital stock at $70 per share plus a broker's commission of $263. On August 3, 2019, Porus Company received a cash dividend of $4.44 per share from Saul Company. On November 4, 2019. Porus sold 100 of these shares at $76 per share, less a broker's commission of $273. On December 1, 2019, Saul Company issued shares comprising a 5% stock dividend declared on its capital stock on November 18 when the price of the stock was $69 per share. On December 31, 2019, the end of Porus Company's calendar-year accounting period, the market price of Saul Company common stock was $59 per share. The investment was considered to be short-term. Required: Prepare journal entries to record all of the above data for Porus Company
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