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Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during 2016: Feb. 2 Purchased for
Yerbury Corp. manufactures construction equipment.
Journalize the entries to record the following selected equity investment transactions completed by Yerbury during 2016:
Feb. 2 | Purchased for cash 5,300 shares of Wong Inc. stock for $20 per share plus a $110 brokerage commission. |
Mar. 6 | Received dividends of $0.30 per share on Wong Inc. stock. |
June 7 | Purchased 2,000 shares of Wong Inc. stock for $26 per share plus a $125 brokerage commission. |
July. 26 | Sold 6,000 shares of Wong Inc. stock for $35 per share less a $100 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold. |
Sept. 25 | Received dividends of $0.40 per share on Wong Inc. stock. |
In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank.
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