Apr. 16 Purchased 5,000 shares of Lafayette Co. stock at $26 per share.July 7 Purchased 3,500 shares of CVF Co. stock at $51 per share. 20 Purchased 1,600 shares of Green Co. stock at $18 per share.Aug. 15 Received an $1.20 per share cash dividend on the Lafayette Co. stock. 28 Sold 3,000 shares of Lafayette Co. stock at $29 per share.Oct. 1 Received a $3.30 per share cash dividend on the CVF Co. shares.Dec. 15 Received a $1.40 per share cash dividend on the remaining Lafayette Co. shares. 31 Received a $2.70 per share cash dividend on the CVF Co. shares.What would the end result be on the general ledger? 5Aug 28Cash87,000Gain on sale of stock investments9,000Stock investments78,000Oct 01Cash11,550Dividend revenue11,5507Dec 15Cash2,800Dividend revenue2,8008Dec 31Cash9,450Dividend revenue9,4509Dec 31Unrealized loss - IncomeFair Value Adjustment - Stock Investments< RequirementGeneral Ledger > View transaction listView journal entry worksheetNoDateAccount TitleDebitCredit1Apr 16Stock investments130,000Cash130,0002Jul 07Stock investments178,500Cash178,5003Jul 20Stock investments28,800Cash28,8004Aug 15Cash6,000Dividend revenue6,0005Aug 28Cash87,000Gain on sale of stock investments9,000Stock investments78,0006Oct 01Cash11,550Dividend revenue11,5507Dec 15Cash2,800Dividend revenue2,800

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Answered: Apr. 16 Purchased 5,000 shares of…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 5CE

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Apr.	16	Purchased 5,000 shares of Lafayette Co. stock at $26 per share.
July	7	Purchased 3,500 shares of CVF Co. stock at $51 per share.
	20	Purchased 1,600 shares of Green Co. stock at $18 per share.
Aug.	15	Received an $1.20 per share cash dividend on the Lafayette Co. stock.
	28	Sold 3,000 shares of Lafayette Co. stock at $29 per share.
Oct.	1	Received a $3.30 per share cash dividend on the CVF Co. shares.
Dec.	15	Received a $1.40 per share cash dividend on the remaining Lafayette Co. shares.
	31	Received a $2.70 per share cash dividend on the CVF Co. shares.

What would the end result be on the general ledger?

5
Aug 28
Cash
87,000
Gain on sale of stock investments
9,000
Stock investments
78,000
Oct 01
Cash
11,550
Dividend revenue
11,550
7
Dec 15
Cash
2,800
Dividend revenue
2,800
8
Dec 31
Cash
9,450
Dividend revenue
9,450
9
Dec 31
Unrealized loss - Income
Fair Value Adjustment - Stock Investments
< Requirement
General Ledger >

View transaction list
View journal entry worksheet
No
Date
Account Title
Debit
Credit
1
Apr 16
Stock investments
130,000
Cash
130,000
2
Jul 07
Stock investments
178,500
Cash
178,500
3
Jul 20
Stock investments
28,800
Cash
28,800
4
Aug 15
Cash
6,000
Dividend revenue
6,000
5
Aug 28
Cash
87,000
Gain on sale of stock investments
9,000
Stock investments
78,000
6
Oct 01
Cash
11,550
Dividend revenue
11,550
7
Dec 15
Cash
2,800
Dividend revenue
2,800

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