Homework Answers
Journal entries
| Date | General Journal | Debit | Credit |
| Feb 2 | Investment-Wrong Inc Stock (1350*39+675) | 53325 | |
| Cash | 53325 | ||
| Mar 16 | Cash (1350*.20) | 270 | |
| Dividend revenue | 270 | ||
| June 7 | Investment-Wrong Inc Stock (800*46+400) | 37200 | |
| Cash | 37200 | ||
| July 26 | Cash (1550*51-775) | 78275 | |
| Gain on sale of investment | 15650 | ||
| Investment-Wrong Inc Stock (53325+37200/800*200) | 62625 | ||
| Sept 25 | Cash (1350+800-1550)*.30 | 180 | |
| Dividend revenue | 180 | ||
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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...
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...
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...
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...
Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a...
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. 2 Purchased for cash 5,000 shares of Wong Inc. stock for $20 per share plus a $115 brokerage commission. Mar. 6 Received dividends of $0.25 per share on Wong Inc. stock. June 7 Purchased 2,000 shares of Wong Inc. stock...
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...
Can someone help me journalize this I have been following along an example and it keeps...
Can someone help me journalize this I have been following along an example and it keeps getting marked as incorrect.... Thanks in advance.. 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. 2 Purchased for cash 5,100 shares of Wong Inc. stock for $19...
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...
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...
Zeus Investments Inc. is a regional investment company that began operations on January 1, Year 1....
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: Dec 31. Year 1 Feb. 14. Purchased 4,800 shares of Apollo Inc. as a trading security at $26 per share plus a brokerage commission of $192. Apr. 1. Purchased 2,300 shares of Ares Inc. as a trading security at $19 per share plus...
Zeus Investments Inc. is a regional investment company that began operations on January 1, 2016. The...
Zeus Investments Inc. is a regional investment company that began operations on January 1, 2016. The following transactions securities acquired by Zeus Investments Inc., which has a fiscal year ending on December 31: relate to trading 2016 Feb. 14. Purchased 4,800 shares of Apollo Inc. as a trading security at Apr. 1. Purchased 2,300 shares of Ares Inc. as a trading security at $19 per share plus a brokerage commission of $92. June 1. Sold 600 shares of Apollo Inc....
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...
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...
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...
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...
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: Dec 31. Year 1 Feb. 14. Purchased 4,800 shares of Apollo Inc. as a trading security at $26 per share plus a brokerage commission of $192. Apr. 1. Purchased 2,300 shares of Ares Inc. as a trading security at $19 per share plus...
Zeus Investments Inc. is a regional investment company that began operations on January 1, 2016. The following transactions securities acquired by Zeus Investments Inc., which has a fiscal year ending on December 31: relate to trading 2016 Feb. 14. Purchased 4,800 shares of Apollo Inc. as a trading security at Apr. 1. Purchased 2,300 shares of Ares Inc. as a trading security at $19 per share plus a brokerage commission of $92. June 1. Sold 600 shares of Apollo Inc....
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