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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. Refer to the Chart
Yerbury Corp. manufactures construction equipment.
Journalize the entries to record the following selected equity investment transactions completed by Yerbury during 2016. 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 5,500 shares of Wong Inc. stock for $21 per share plus a $105 brokerage commission. |
Mar. | 6 | Received dividends of $0.35 per share on Wong Inc. stock. |
June | 7 | Purchased 2,000 shares of Wong Inc. stock for $24 per share plus a $125 brokerage commission. |
July | 26 | Sold 6,000 shares of Wong Inc. stock for $35 per share less a $115 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. |
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