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Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year: Feb. 2
Yerbury Corp. manufactures construction equipment.
Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year:
Feb. 2 | Purchased for cash 1,050 shares of Wong Inc. stock for $53 per share plus a $525 brokerage commission. |
Mar. 16 | Received dividends of $0.30 per share on Wong Inc. stock. |
June 7 | Purchased 650 shares of Wong Inc. stock for $60 per share plus a $325 brokerage commission. |
July 26 | Sold 1,200 shares of Wong Inc. stock for $65 per share less a $600 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.
Feb. 2 | Investments-Wong Inc. Stock | ||
Cash | |||
Mar. 16 | Cash | ||
Dividend Revenue | |||
June 7 | Investments-Wong Inc. Stock | ||
Cash | |||
July 26 | Cash | ||
***Can someone explain how to get the answers here --> | Gain on Sale of Investments | ||
**--------------------------------------------------> | Investments-Wong Inc. Stock | ||
Sept. 25 | Cash | ||
Dividend Revenue |
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