McCormick Inc. had the following transactions pertaining to investments in common stock: Jan. 1 Purchased 1,000 shares

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McCormick Inc. had the following transactions pertaining to investments in common stock:

Jan. 1 Purchased 1,000 shares of Starr Corporation common stock ( $5 \%$ ) for $\$ 70,000$ cash plus $\$ 1,400$ broker's commission.

July 1 Received a cash dividend of $\$ 9$ per share.

Dec. 1 Sold 500 shares of Starr Corporation common stock for $\$ 37,000$ cash less $\$ 800$ broker's commission.

Dec. 31 Received a cash dividend of $\$ 9$ per share.

\section*{Instructions}

Journalize the transactions.

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Financial Accounting

ISBN: 9780471169208

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jun 14, 2024 01:14 AM

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McCormick Inc. had the following transactions pertaining to investments in common stock: Jan. 1 Purchased 1,000 shares

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Financial Accounting

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