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Journalize the entries for the following selected equity investment transactions completed by Perry Company during the current year. Perry accounts for the Dexter Co. investment
Journalize the entries for the following selected equity investment transactions completed by Perry Company during the current year. Perry accounts for the Dexter Co. investment using the fair value method.
Feb. 2 | Purchased for cash 900 shares of Dexter Co. stock for $54 per share plus a $450 brokerage commission. This represents a less than 10% ownership interest in the company. |
Apr. 16 | Received dividends of $0.25 per share on Dexter Co. stock. |
June 17 | Sold 200 shares of Dexter Co. stock for $70 per share less a $500 brokerage commission. |
Aug. 19 | Purchased 600 shares of Dexter Co. stock for $65 per share plus a $300 brokerage commission. |
Nov. 14 | Received dividends of $0.30 per share on Dexter Co. stock |
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