The following equity investment transactions were completed by Vintage Company during a recent year: Apr. 10. Purchased 2,300 shares of Delew Company’s common stock for a price of $49.85 per share plus a brokerage commission of $345. Delew Company has 260,000 shares of common stock outstanding. July 8. Received a quarterly dividend of $0.25 per share on the Delew Company investment. Sept. 10. Sold 1,500 shares for a price of $45 per share less a brokerage commission of $190. Dec. 31. At the end of the accounting period, the fair value of the remaining 800 shares of Delew Company’s stock was $49.50 per share. Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. If required, round the final answers to the nearest dollar. Apr. 10 - Purchase Investments-Delew Company Stock Cash July 8 - Dividend Cash Dividend Revenue Sept. 10 - Sale Cash Loss on Sale of Investments Investments-Delew Company Stock Dec. 31 Unrealized Loss on Equity Investments Valuation Allowance for Equity Investments
The following equity investment transactions were completed by Vintage Company during a recent year: Apr. 10. Purchased 2,300 shares of Delew Company’s common stock for a price of $49.85 per share plus a brokerage commission of $345. Delew Company has 260,000 shares of common stock outstanding. July 8. Received a quarterly dividend of $0.25 per share on the Delew Company investment. Sept. 10. Sold 1,500 shares for a price of $45 per share less a brokerage commission of $190. Dec. 31. At the end of the accounting period, the fair value of the remaining 800 shares of Delew Company’s stock was $49.50 per share. Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. If required, round the final answers to the nearest dollar. Apr. 10 - Purchase Investments-Delew Company Stock Cash July 8 - Dividend Cash Dividend Revenue Sept. 10 - Sale Cash Loss on Sale of Investments Investments-Delew Company Stock Dec. 31 Unrealized Loss on Equity Investments Valuation Allowance for Equity Investments
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter12: Statement Of Stockholders’ Equity (stockeq)
Section: Chapter Questions
Problem 4R: The following selected transactions and events occurred during 2013: a. Issued 200 shares of...
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The following equity investment transactions were completed by Vintage Company during a recent year:
Apr. | 10. | Purchased 2,300 shares of Delew Company’s common stock for a price of $49.85 per share plus a brokerage commission of $345. Delew Company has 260,000 shares of common stock outstanding. |
July | 8. | Received a quarterly dividend of $0.25 per share on the Delew Company investment. |
Sept. | 10. | Sold 1,500 shares for a price of $45 per share less a brokerage commission of $190. |
Dec. | 31. | At the end of the accounting period, the fair value of the remaining 800 shares of Delew Company’s stock was $49.50 per share. |
Apr. 10 - Purchase |
|
Investments-Delew Company Stock | |
|
Cash | ||
July 8 - Dividend |
|
Cash | |
|
Dividend Revenue | ||
Sept. 10 - Sale |
|
Cash | |
|
Loss on Sale of Investments | ||
|
Investments-Delew Company Stock | ||
Dec. 31 |
|
Unrealized Loss on Equity Investments | |
|
Valuation Allowance for Equity Investments |
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