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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 900 shares of Tett Co. stock for $81 per share plus a $160 brokerage commission. |
May | 16 | Acquired 2,500 shares of Issacson Co. stock for $36 per share plus a $95 commission. |
July | 14 | Sold 400 shares of Tett Co. stock for $100 per share less a $75 brokerage commission. |
Aug. | 12 | Sold 810 shares of Issacson Co. stock for $31.00 per share less an $65 brokerage commission. |
Oct. | 31 | Received dividends of $0.45 per share on Tett Co. stock. |
Journalize the entries for these 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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