Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar. Feb. Mar. 6 June 7 July 2 Purchased for cash 5,200 shares of Wong Inc. stock for $19 per share plus a $120 brokerage commission. Received dividends of $0.25 per share on Wong Inc. stock. Purchased 2,000 shares of Wong Inc. stock for $25 per share plus a $115 brokerage commission. Sold 6,200 shares of Wong Inc. stock for $38 per share less a $105 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold Received dividends of $0.50 per share on Wong Inc. stock. Sept. 26 25
Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar. Feb. Mar. 6 June 7 July 2 Purchased for cash 5,200 shares of Wong Inc. stock for $19 per share plus a $120 brokerage commission. Received dividends of $0.25 per share on Wong Inc. stock. Purchased 2,000 shares of Wong Inc. stock for $25 per share plus a $115 brokerage commission. Sold 6,200 shares of Wong Inc. stock for $38 per share less a $105 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold Received dividends of $0.50 per share on Wong Inc. stock. Sept. 26 25
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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