Entries for Investment in Stock, Receipt of Dividends, and Sale of SharesThe following equity investment transactions were completed by Romero Company during a recent year:Apr. 10.Purchased 1,700 shares of Dixon Company for a price of $45.75 per share plus a brokerage commission of $425.July 8.Received a quarterly dividend of $0.45 per share on the Dixon Company investment.Sept. 10.Sold 1,100 shares for a price of $41 per share less a brokerage commission of $240.Journalize the entries for these transactions. If required, round the final answers to the nearest dollar.For a compound transaction, if an amount box does not require an entry, leave it blank.Apr. 10 - Purchase fill in the blank 2 fill in the blank 4July 8 - Dividend fill in the blank 6 fill in the blank 8Sept. 10 - Sale fill in the blank 10fill in the blank 11 fill in the blank 13fill in the blank 14

Dividends that were declared but not yet paid are reported on the balance sheet under the heading…

Answered: The following equity investment…

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter20: Corporations: Organization And Capital Stock

Section: Chapter Questions

Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...

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Entries for Investment in Stock, Receipt of Dividends, and Sale of Shares

The following equity investment transactions were completed by Romero Company during a recent year:

Apr. 10.	Purchased 1,700 shares of Dixon Company for a price of $45.75 per share plus a brokerage commission of $425.
July 8.	Received a quarterly dividend of $0.45 per share on the Dixon Company investment.
Sept. 10.	Sold 1,100 shares for a price of $41 per share less a brokerage commission of $240.

Journalize the entries for these transactions. If required, round the final answers to the nearest dollar.

For a compound transaction, if an amount box does not require an entry, leave it blank.

Apr. 10 - Purchase	fill in the blank 2
		fill in the blank 4
July 8 - Dividend	fill in the blank 6
		fill in the blank 8
Sept. 10 - Sale	fill in the blank 10	fill in the blank 11
	fill in the blank 13	fill in the blank 14

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