Answered step by step
Verified Expert Solution
Question
1 Approved Answer
this is mot correct the person that was hekping before didnt help Entries for Investment in Stock, Receipt of Dividends, and Sale of Shares On
this is mot correct the person that was hekping before didnt help Entries for Investment in Stock, Receipt of Dividends, and Sale of Shares On February 22, Stewart Corporation acquired 5,600 shares of the 195,000 outstanding shares of Edward plus commission charges of $1,120. On June 1 , a cash dividend of $0.80 per share was received. On Nove sold at $36 less commission charges of $216. In your computations, round per share amounts to two decimal places. When required, round final answer a. Using the cost method, journalize the entry for the purchase of stock. Feb. 22 X Feedback Check My Work a. When recording the purchase of the investment, consider the amount of the brokerage commission. b. Using the cost method, journalize the entry for the receipt of dividends. June 1 Entries for Investment in Stock, Receipt of Dividends, and Sale of Shares On February 22, Stewart Corporation acquired $,600 shares of the 195,000 outstanding shares of Edwards Co. common stock at $29.81 plus commission charges of $1,120. On June 1 , a cash dividend of $0.80 per share was received. On November 12,1,800 shares were sold at $36 less commission charges of $216. In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar. a. Using the cost method, journalize the entry for the purchase of stock. Feb. 22 Feedback TCheck My Work a. When recording the purchase of the investment, consider the amount of the brokerage commission. b. Using the cost method, journalize the entry for the receipt of dividends. June 1 Check My Work b. Record the revenue earned. c. Using the cost method, journalize the entry for the sale of 1,800 shares. For a compound transaction, if an amount box does not require an entry, leave it blank. Nov. T Check My Wor c. When recording the cash recelved, consider the commission. To complete the entry determine and gain or loss to be recorded. Feodback rCheck My Work Partially correct Entries for Investment in Stock, Receipt of Dividends, and Sale of Shares On February 22 , Stewart Corporation acquired 5,600 shares of the 195,000 outstanding shares of Edwards Co. common stock at $2$ plus commission charges of $1,120. On June 1 , a cash dividend of $0.80 per share was received. On November 12,1,800 shares we sold at $36 less commission charges of $216. In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar. a. Using the cost method, journalize the entry for the purchase of stock. Feb. 22 x x Feedtaack T Cheok My Work a. When recording the purchase of the investment, consider the amount of the brokerage commission. b. Using the cost method, journalize the entry for the recelpt of dividends. June 1 c. Using the cost method, journalize the entry for the sale of 1,800 shares. For a compound transaction, if an amount box does not require an entry, leave it blank. Nov. Feedback TCheck My Work c. When recording the cash recelved, consider the commission. To complete the entry determine and gain or loss to be reco
the person that was hekping before didnt help
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started