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Prepare journal entries to record the following transactions involving the short-term stock investments of Duke Co., all of which occurred during the current year. a.
Prepare journal entries to record the following transactions involving the short-term stock investments of Duke Co., all of which occurred during the current year. a. On March 22, purchased 840 shares of RPI Company stock at $15 per share. Duke's stock investment results in it having an insignificant influence over RPI. b. On July 1, received a $1 per share cash dividend on the RPI stock purchased in part a. c. On October 8, sold 420 shares of RPI stock for $25 per share. View transaction list Journal entry worksheet 1 2 3 > On March 22, purchased 840 shares of RPI Company stock at $15 per share. Duke's stock investment results in it having an insignificant influence over RPI. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal Journal entry worksheet On July 1, received a $1 per share cash dividend on the RPI stock purchased in part a. Note: Enter debits before credits. General Journal Debit Credit Transaction b. Record entry Clear entry View general journal Journal entry worksheet On October 8, sold 420 shares of RPI stock for $25 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit C. Record entry Clear entry View general journal
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