Question
Seamus industries inc buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year: Feb 24:
Seamus industries inc buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year:
Feb 24: acquired 1,000 shares of tett co. stock for $85 per share plus a $150 brokerage commission.
May 16: acquired 2,500 shares if isaacson co stock for $36 per share plus a $100 commission
July 14: sold 400 shares of tett co stock for $100 per share less a $75 brokerage commission
Aug 12: sold 750 shares of isaacson co stock for $32.50 per share less an $80 brokerage commission
Oct31: received dividends of $0.40 per share on tett co stock
Journalize the entries for these transactions
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