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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 1,350 shares of Wong Inc. stock for $39 per share plus a $675 brokerage commission. Mar. 16 Received dividends of $0.20 per share on Wong Inc. stock. June 7 Purchased 800 shares of Wong Inc. stock for $46 per share plus a $400 brokerage commission. July 26 Sold 1,550 shares of Wong Inc. stock for $51 per share less a $775 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold. Sept. 25 Received dividends of $0.30 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 53,325 Cash 53,325 Mar. 16 Cash 270 Dividend Revenue 270 June 7 Investments-Wong Inc. Stock 37,200 Cash 37,200 July 26 Cash Gain on Sale of Investments Investments-Wong Inc. Stock Sept. 25 Cash Dividend Revenue
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