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 $83 per share plus a $130 brokerage commission.
May	16	Acquired 2,500 shares of Issacson Co. stock for $37 per share plus a $100 commission.
July	14	Sold 400 shares of Tett Co. stock for $99 per share less a $90 brokerage commission.
Aug.	12	Sold 730 shares of Issacson Co. stock for $31.50 per share less an $65 brokerage commission.
Oct.	31	Received dividends of $0.35 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.

CHART OF ACCOUNTS

Seamus Industries Inc.

General Ledger

	ASSETS
110	Cash
111	Petty Cash
120	Accounts Receivable
121	Allowance for Doubtful Accounts
131	Notes Receivable
132	Interest Receivable
141	Merchandise Inventory
145	Office Supplies
146	Store Supplies
151	Prepaid Insurance
161	Investments-Tett Co. Stock
163	Investments-Issacson Co. Stock
165	Valuation Allowance for Trading Investments
166	Valuation Allowance for Available-for-Sale Investments
181	Land
191	Store Equipment
192	Accumulated Depreciation-Store Equipment
193	Office Equipment
194	Accumulated Depreciation-Office Equipment

	LIABILITIES
210	Accounts Payable
221	Notes Payable
231	Interest Payable
241	Salaries Payable
251	Sales Tax Payable

EQUITY

311

Common Stock

312

Paid-In Capital in Excess of Par-Common Stock

321

Preferred Stock

322

Paid-In Capital in Excess of Par-Preferred Stock

331

Treasury Stock

332

Paid-In Capital from Sale of Treasury Stock

340

Retained Earnings

350

Unrealized Gain (Loss) on Available-for-Sale Investments

351

Cash Dividends

352

Stock Dividends

390

Income Summary

Journalize the entries for the transactions. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar.

PAGE 10

JOURNAL

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
1
2
3
4
5
6
7
8
9
10
11
12

	REVENUE
410	Sales
611	Interest Revenue
612	Dividend Revenue
621	Income of Tett Co.
622	Income of Issacson Co.
631	Gain on Sale of Investments
641	Unrealized Gain on Trading Investments

	EXPENSES
511	Cost of Merchandise Sold
512	Bad Debt Expense
515	Credit Card Expense
516	Cash Short and Over
520	Salaries Expense
531	Advertising Expense
532	Delivery Expense
533	Repairs Expense
534	Selling Expenses
535	Rent Expense
536	Insurance Expense
537	Office Supplies Expense
538	Store Supplies Expense
561	Depreciation Expense-Store Equipment
562	Depreciation Expense-Office Equipment
590	Miscellaneous Expense
710	Interest Expense
721	Loss of Tett Co.
722	Loss of Issacson Co.
731	Loss on Sale of Investments
741	Unrealized Loss on Trading Investments