Question
Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year. Refer to the Chart of Accounts for
Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar.
Feb. | 2 | Purchased for cash 5,000 shares of Wong Inc. stock for $20 per share plus a $100 brokerage commission. |
Mar. | 6 | Received dividends of $0.45 per share on Wong Inc. stock. |
June | 7 | Purchased 2,000 shares of Wong Inc. stock for $27 per share plus a $130 brokerage commission. |
July | 26 | Sold 5,900 shares of Wong Inc. stock for $35 per share less a $110 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold. |
Sept. | 25 | Received dividends of $0.45 per share on Wong Inc. stock. |
CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Yerbury Corp. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar.
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JOURNAL
ACCOUNTING EQUATION
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