Journalize the entries to record the following selected equity investment transactions completed by Perry Company during the current year. Perry accounts for this investment using the cost method.Feb. 2Purchased for cash 900 shares of Dexter Co. stock for $54 per share plus a $450 brokerage commission. This represents a less than 10% ownership interest in the company.Apr. 16Received dividends of $0.25 per share on Dexter Co. stock.June 17Sold 200 shares of Dexter Co. stock for $70 per share less a $500 brokerage commission.Aug. 19Purchased 600 shares of Dexter Co. stock for $65 per share plus a $300 brokerage commission.Nov. 14Received dividends of $0.30 per share on Dexter Co. stock. If an amount box does not require an entry, leave it blank.Feb. 2 fill in the blank 2 fill in the blank 4Apr. 16 fill in the blank 6 fill in the blank 8June 17 fill in the blank 10fill in the blank 11 fill in the blank 13fill in the blank 14 fill in the blank 16fill in the blank 17Aug. 19 fill in the blank 19 fill in the blank 21Nov. 14 fill in the blank 23 fill in the blank 25

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Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 8E

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Journalize the entries to record the following selected equity investment transactions completed by Perry Company during the current year. Perry accounts for this investment using the cost method.

Feb. 2	Purchased for cash 900 shares of Dexter Co. stock for $54 per share plus a $450 brokerage commission. This represents a less than 10% ownership interest in the company.
Apr. 16	Received dividends of $0.25 per share on Dexter Co. stock.
June 17	Sold 200 shares of Dexter Co. stock for $70 per share less a $500 brokerage commission.
Aug. 19	Purchased 600 shares of Dexter Co. stock for $65 per share plus a $300 brokerage commission.
Nov. 14	Received dividends of $0.30 per share on Dexter Co. stock.

If an amount box does not require an entry, leave it blank.

Feb. 2	fill in the blank 2
		fill in the blank 4
Apr. 16	fill in the blank 6
		fill in the blank 8
June 17	fill in the blank 10	fill in the blank 11
	fill in the blank 13	fill in the blank 14
	fill in the blank 16	fill in the blank 17
Aug. 19	fill in the blank 19
		fill in the blank 21
Nov. 14	fill in the blank 23
		fill in the blank 25

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