The following available-for-sale investment-related transactions were completed by Lance Inc. in 2015. Lance Inc. includes brokerage fees
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Jan. 12. Purchased 1,800 shares of Baxter Ltd. for a price of $56.50 per share plus a brokerage commission of $90.
Apr. 10. Received a quarterly dividend of $0.25 per share on the Baxter Ltd. investment.
Jun. 3. Sold 1,200 shares for a price of $46 per share less a brokerage commission of $65.
Journalize the entries for these transactions
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For
Accounting Volume 2
ISBN: 978-0176509743
2nd Canadian edition
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
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