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Sweet Corporation made the following cash purchases of securities during 2 0 2 5 , which is the first year in which Sweet invested in
Sweet Corporation made the following cash purchases of securities during which is the first year in which Sweet invested in
securities
On January purchased shares of Sanchez Company's common stock at $ per share plus commission $
On April purchased shares of Vicario Cos common stock at $ per share plus commission $
On September purchased shares of WTA Cos preferred stock at $ per share plus commission $
On May Sweet sold shares of Sanchez Company's common stock at a market price of $ per share less brokerage
commissions, taxes, and fees of $ The yearend fair values per share were Sanchez $ Vicario $ and WTA $ In addition,
the chief accountant of Sweet told you that the corporation plans to hold these securities for the longterm but may sell them in order
to earn profits from appreciation in prices. The equity method of accounting is not appropriate for these stock purchases.
a
Prepare the journal entries to record the above three security purchases. List all debit entries before credit entries. Credit account
titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account
titles and enter for the amounts. Round answers to decimal places, eg
No
Date
Account Titles and Explanation
Debit
Debit
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