Question
Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year. Refer to
Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar. Feb. 2 Purchased for cash 5,200 shares of Wong Inc. stock for $19 per share plus a $120 brokerage commission. Mar. 6 Received dividends of $0.25 per share on Wong Inc. stock. June 7 Purchased 2,000 shares of Wong Inc. stock for $25 per share plus a $115 brokerage commission. July 26 Sold 6,200 shares of Wong Inc. stock for $38 per share less a $105 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold. Sept. 25 Received dividends of $0.50 per share on Wong Inc. stock.
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