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Instructions On February 22, Stewart Corporation acquired 7,200 shares of the 200,000 outstanding shares of Edwards Co.common stock at $42 plus commission charges of $170.
Instructions On February 22, Stewart Corporation acquired 7,200 shares of the 200,000 outstanding shares of Edwards Co.common stock at $42 plus commission charges of $170. On June 1, a cash dividend of $1.85 per share was received. On November 12,3,100 shares were sold at $49 less commission charges of $165. Using the cost method, joumalize the entries for (a) the purchase of stock, (b) the receipt of dividends, and (c) the sale of 3,100 shares. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar. Joumal Using the cost method, joumalize the entries for the transactions. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEDIT CREDIT ASSETS U ADILITIES EQUITY
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