Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Instructions Seamus Industries Inc buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year Fed
Instructions Seamus Industries Inc buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year Fed May July 24 Acquared 1 200 shares of Tett Co stock for $82 per shate plus a $140 broketage commission 18 Acquired 2,000 shares of Issacson Co stock for $35 per share plus a $106 commission 14 Sold 400 shares of Tent Co stock for $100 per shate less a $30 brokerage commission Sold 710 shares of sacson Co stock for $35.00 per share terus an brokerage commission 31 Received dividends of S040 per share on TettCo stock 12 Aug Oct Joumalize the entries for these transactions Refer to the Chart of Accounts for exact wording of account oes When required, round your answers to the nearest dollar Journal Shaded JOURRAL Scorer 150 ACCOUNTING EQUAVION DATE DESCRIPTION POSTE DER CREDIT ASSETS LIAUSILITIES EQUITY 1 2 Feb 24 Investments-Tett Co. Stock Cash May 16 Investments Issacson Ca Stock Cash Jul. 14 Gash Gain on Sale of Investments Investments-Tett Co. Stock Aug 12 Cash Loss on Sale of lovestments Investments isson Co. Stock Oct. 51 Cash 10 11 1 Dividers Revenue
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started