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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 5,100 shares of Wong Inc. stock for $18 per share plus a $110 brokerage commission. |
Mar. | 6 | Received dividends of $0.35 per share on Wong Inc. stock. |
June | 7 | Purchased 2,000 shares of Wong Inc. stock for $25 per share plus a $130 brokerage commission. |
July | 26 | Sold 6,200 shares of Wong Inc. stock for $36 per share less a $110 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold. |
Sept. | 25 | Received dividends of $0.50 per share on Wong Inc. stock.
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CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Yerbury Corp. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General Ledger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Entries for stock investments, dividends, and sale of stock Instructions Chart of Accounts Journal Instructions Journal Shaded cells have feedback. JOURNAL Score: 123/138 ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIES EQUITY V 1 Feb. 7 Investments-Wong Inc. Stock 652,800.00 2 Cash 652,800.00 1 V 3 Mar. 6 Cash 1,785.00 1 4 Dividend Revenue 1,785.000 5 Jun.7 Investments-Wong Inc. Stock 310,000.00 6 Cash 310,000.00 ! Jul. 26' Cash 7 223,090.00 1 8 Gain on Sale of Investments 600,210.00 9 823,300.00 + Investments-Wong Inc. Stock Sep. 25 Cash 10 450.00 1 11 Dividend Revenue 450.00
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