The following equity investment-related transactions were completed by Lance Company in 2010: Jan. 12. Purchased 1,800 shares
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Jan. 12. Purchased 1,800 shares of Baxter Company 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 Company investment
June 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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Date 12Jan Investments Cashi Purchased 1800 shares ...View the full answer
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Related Book For 
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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