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Use journal entries to record the following transactions of Beacon Inc. . Assume the transactions occur in 2018. 1) Purchased 2,800 shares of New City
| Use journal entries to record the following transactions of Beacon Inc. . Assume the transactions occur in 2018. | ||||||||||||||||
| 1) | Purchased 2,800 shares of New City Corp. common stock for $40 per share. These securities are publicly traded and Beacon has no influence over New Citys business decisions. | |||||||||||||||
| 2) | Received a cash dividend of $3.20 per share from New City. | |||||||||||||||
| 3) | Year-end market price of New City common stock is $30.40 per share. | |||||||||||||||
| 4) | Sold 1,200 shares for $25.60 per share, the closing price for the day. | |||||||||||||||
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Financial Accounting And Reporting A Global Perspective
Authors: Herve Stolowy, Yuan Ding, Luc Paugam
6th Edition
147376730X, 9781473767300
