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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 1,200 shares of Tett Co. stock for $82 per share plus a $140 brokerage commission. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
May | 16 | Acquired 2,600 shares of Issacson Co. stock for $35 per share plus a $105 commission. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
July | 14 | Sold 400 shares of Tett Co. stock for $100 per share less a $80 brokerage commission. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aug. | 12 | Sold 710 shares of Issacson Co. stock for $33.00 per share less an $85 brokerage commission. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Oct. | 31 | Received dividends of $0.40 per share on Tett Co. stock.
ournalize 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 ACCOUNTING EQUATION
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