Homework Answers
| 24-Feb | Investment in stock | 118161 | |||
| Cash | 118161 | ||||
| 16-May | Investment in stock | 52944 | |||
| Cash | 52944 | ||||
| 14-Jul | Cash | 57906 | |||
| Investment in stock | 52516 | (118161*400/900) | |||
| Profit on sale of stock | 5390 | (57906-52516) | |||
| 12-Aug | Cash | 15519 | |||
| Loss on sale of stock | 4335 | (19854-15519) | |||
| Investment in stock | 19854 | (52944*600/1000) | |||
| 31-Oct | Dividend | 210 | |||
| Dividend income | 210 | ||||
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Entries for Stock Investments, Dividends, and Sale of Stock Seamus Industries Inc. buys and sells investments...
the answers in blue are wrong. Entries for Stock Investments, Dividends, and Sale of Stock Seamus...
the answers in blue are wrong.
Entries for Stock Investments, Dividends, and Sale of Stock Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year: Feb. 24 Acquired 2,000 shares of Tett Co. stock for $80 per share plus a $200 brokerage commission May 16 Acquired 2,000 shares of Issacson Co. stock for $40 per share plus a $100 commission July 14 Sold 500 shares of Tett...
Journal Chart of Accounts Instructions Instructions On September 12, 15,000 shares of Aspen Company are acquired...
Journal Chart of Accounts Instructions Instructions On September 12, 15,000 shares of Aspen Company are acquired at a price of $25 per share plus a $145 brokerage commission. On October 15, a $0.30-per-share dividend was received on the Aspen stock. On November 10, 6,200 shares of the Aspen stock were sold for $34 per share less a $130 brokerage commission. Journalize the entries to record the original purchase, the dividend, and the sale under the cost method. Refer to the...
Entries for Investments in Bonds, Interest, and Sale of Bonds Torres Investments acquired $160,000 of Murphy...
Entries for Investments in Bonds, Interest, and Sale of Bonds Torres Investments acquired $160,000 of Murphy Corp., 5% bonds at their face amount on October 1, Year 1. The bonds pay interest on October 1 and April 1. On April 1, Year 2, Torres sold $60,000 of Murphy Corp bonds at 102. Journalize the entries to record the following: Do not round interim calculations. Round final answers to nearest dollar. For a compound transaction, if an amount box does not...
Mar. 16 Journalize the entries to record the following selected equity investment transactions completed by Yerbury...
Mar. 16 Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year: Feb. 2 Purchased for cash 1,200 shares of Wong Inc. stock for $36 per share plus a $600 brokerage commission. Received dividends of $0.20 per share on Wong Inc. stock. June 7 Purchased 900 shares of Wong Inc. stock for $47 per share plus a $450 brokerage commission. July 26 Sold 1,450 shares of Wong Inc. stock for $52 per...
Entries for equity investments: less than 20% ownership Quan Corp. manufactures construction equipment. Journalize the entries...
Entries for equity investments: less than 20% ownership Quan Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Quan during a recent year using the fair value method. Feb. 2 Mar. 6 Purchased for cash 3,100 shares of Celeste Inc.'s common stock for $32 per share plus a $124 brokerage commission. Celeste Inc. has 80,000 shares of common stock outstanding. Received dividends of $0.45 per share on Celeste Inc. stock. Purchased 1,400...
Stock Investment Transactions, Trading Securities Zeus Investments Inc. is a regional investment company that began operations...
Stock Investment Transactions, Trading Securities Zeus Investments Inc. is a regional investment company that began operations on January 1, Year 1. The following transactions relate to trading securities acquired by Zeus Investments Inc., which has a fiscal year ending on December 31: Year 1 Feb. 14. Purchased 3,200 shares of Apollo Inc. as a trading security at $36 per share plus a brokerage commission of $640. Apr. 1. Purchased 1,500 shares of Ares Inc. as a trading security at $14...
Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions...
Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year: Feb. 2 Purchased for cash 1,050 shares of Wong Inc. stock for $53 per share plus a $525 brokerage commission. Mar. 16 Received dividends of $0.30 per share on Wong Inc. stock. June 7 Purchased 650 shares of Wong Inc. stock for $60 per share plus a $325 brokerage commission. July 26 Sold 1,200 shares of Wong...
Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions...
Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year: Feb. 2 Purchased for cash 1,350 shares of Wong Inc. stock for $39 per share plus a $675 brokerage commission. Mar. 16 Received dividends of $0.20 per share on Wong Inc. stock. June 7 Purchased 800 shares of Wong Inc. stock for $46 per share plus a $400 brokerage commission. July 26 Sold 1,550 shares of Wong...
Journal the entries to record the stock investments for Perry Company. Feb 3 Purchased for cash...
Journal the entries to record the stock investments for Perry Company. Feb 3 Purchased for cash 900 shares of Dexter Company stock for $54 per share. This represents an ownership interest of less than 10% in dexter. April 15 Received dividends of .25 cents per share on on Dexter Co. STock June 16 Sold 200 shares of Dexter Co stock for $70 per share Aug 18 Purchased 600 shares of Dexter co stock for $65 a share Nov 14 Received...
er 15 Investments and Fair Value Accounting PR 15-3B Stock investment transactions, equity method and available-for-sale...
er 15 Investments and Fair Value Accounting PR 15-3B Stock investment transactions, equity method and available-for-sale 03.3.4 securities Glacier Products Inc. is a wholesaler of rock climbing gear. The company began operations on January 1, 2016. The following transactions relate to securities acquired by Glacier Products Inc., which has a fiscal year ending on December 31: 2016 Jan. 18. Purchased 9,000 shares of Malmo Inc. as an available for sale investment at $40 per share, including the brokerage commission. July...
the answers in blue are wrong.
Entries for Stock Investments, Dividends, and Sale of Stock Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year: Feb. 24 Acquired 2,000 shares of Tett Co. stock for $80 per share plus a $200 brokerage commission May 16 Acquired 2,000 shares of Issacson Co. stock for $40 per share plus a $100 commission July 14 Sold 500 shares of Tett...
Journal Chart of Accounts Instructions Instructions On September 12, 15,000 shares of Aspen Company are acquired at a price of $25 per share plus a $145 brokerage commission. On October 15, a $0.30-per-share dividend was received on the Aspen stock. On November 10, 6,200 shares of the Aspen stock were sold for $34 per share less a $130 brokerage commission. Journalize the entries to record the original purchase, the dividend, and the sale under the cost method. Refer to the...
Entries for Investments in Bonds, Interest, and Sale of Bonds Torres Investments acquired $160,000 of Murphy Corp., 5% bonds at their face amount on October 1, Year 1. The bonds pay interest on October 1 and April 1. On April 1, Year 2, Torres sold $60,000 of Murphy Corp bonds at 102. Journalize the entries to record the following: Do not round interim calculations. Round final answers to nearest dollar. For a compound transaction, if an amount box does not...
Mar. 16 Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year: Feb. 2 Purchased for cash 1,200 shares of Wong Inc. stock for $36 per share plus a $600 brokerage commission. Received dividends of $0.20 per share on Wong Inc. stock. June 7 Purchased 900 shares of Wong Inc. stock for $47 per share plus a $450 brokerage commission. July 26 Sold 1,450 shares of Wong Inc. stock for $52 per...
Entries for equity investments: less than 20% ownership Quan Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Quan during a recent year using the fair value method. Feb. 2 Mar. 6 Purchased for cash 3,100 shares of Celeste Inc.'s common stock for $32 per share plus a $124 brokerage commission. Celeste Inc. has 80,000 shares of common stock outstanding. Received dividends of $0.45 per share on Celeste Inc. stock. Purchased 1,400...
Stock Investment Transactions, Trading Securities Zeus Investments Inc. is a regional investment company that began operations on January 1, Year 1. The following transactions relate to trading securities acquired by Zeus Investments Inc., which has a fiscal year ending on December 31: Year 1 Feb. 14. Purchased 3,200 shares of Apollo Inc. as a trading security at $36 per share plus a brokerage commission of $640. Apr. 1. Purchased 1,500 shares of Ares Inc. as a trading security at $14...
Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year: Feb. 2 Purchased for cash 1,350 shares of Wong Inc. stock for $39 per share plus a $675 brokerage commission. Mar. 16 Received dividends of $0.20 per share on Wong Inc. stock. June 7 Purchased 800 shares of Wong Inc. stock for $46 per share plus a $400 brokerage commission. July 26 Sold 1,550 shares of Wong...
er 15 Investments and Fair Value Accounting PR 15-3B Stock investment transactions, equity method and available-for-sale 03.3.4 securities Glacier Products Inc. is a wholesaler of rock climbing gear. The company began operations on January 1, 2016. The following transactions relate to securities acquired by Glacier Products Inc., which has a fiscal year ending on December 31: 2016 Jan. 18. Purchased 9,000 shares of Malmo Inc. as an available for sale investment at $40 per share, including the brokerage commission. July...
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