Question
The following equity investment transactions were completed by Romero Company during a recent year: Apr. 10 Purchased 5,000 shares of Dixon Company for a price
The following equity investment transactions were completed by Romero Company during a recent year:
Apr. | 10 | Purchased 5,000 shares of Dixon Company for a price of $49 per share plus a brokerage commission of $90. |
July | 8 | Received a quarterly dividend of $1.00 per share on the Dixon Company investment. |
Sept. | 10 | Sold 1,100 shares for a price of $44 per share less a brokerage commission of $70. |
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.
Instructions
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Chart of Accounts
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Instructions
The following equity investment transactions were completed by Romero Company during a recent year:
Apr. | 10 | Purchased 5,000 shares of Dixon Company for a price of $49 per share plus a brokerage commission of $90. |
July | 8 | Received a quarterly dividend of $1.00 per share on the Dixon Company investment. |
Sept. | 10 | Sold 1,100 shares for a price of $44 per share less a brokerage commission of $70. |
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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Chart of Accounts
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