On September 12, 3,300 shares of Aspen Company are acquired at a price of $65.00 per share plus a $165 brokerage commission. On October 15, a $1.10-per-share dividend was received on the Aspen Company stock. On November 10, 1,320.00 shares of the Aspen Company stock were sold for $59 per share less a $66 brokerage commission. When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. Prepare the journal entries for the original purchase, the dividend, and the sale under the cost method. Sept. 12 Oct. 15 Nov. 10
On September 12, 3,300 shares of Aspen Company are acquired at a price of $65.00 per share plus a $165 brokerage commission. On October 15, a $1.10-per-share dividend was received on the Aspen Company stock. On November 10, 1,320.00 shares of the Aspen Company stock were sold for $59 per share less a $66 brokerage commission. When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. Prepare the journal entries for the original purchase, the dividend, and the sale under the cost method. Sept. 12 Oct. 15 Nov. 10
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 65E: Treasury Stock Transactions Garrett Inc. had no treasury stock at the beginning of the year. During...
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Stock Investment Transactions
On September 12, 3,300 shares of Aspen Company are acquired at a price of $65.00 per share plus a $165 brokerage commission. On October 15, a $1.10-per-share dividend was received on the Aspen Company stock. On November 10, 1,320.00 shares of the Aspen Company stock were sold for $59 per share less a $66 brokerage commission.
When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank.
Prepare the
| Sept. 12 | |||
| Oct. 15 | |||
| Nov. 10 | |||
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