Question

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 per share plus a $120 brokerage commission.
Mar.	6	Received dividends of $0.35 per share on Wong Inc. stock.
June	7	Purchased 2,000 shares of Wong Inc. stock for $24 per share plus a $130 brokerage commission.
July	26	Sold 6,000 shares of Wong Inc. stock for $36 per share less a $95 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold.
Sept.	25	Received dividends of $0.40 per share on Wong Inc. stock.

Answer 1

Journal Entry in the books of Yerbury Corp.

Date	Account and explanation	Debit	Credit
Feb 2	Investments- Wong Inc.Stock (5100*19+120)	97020
	Cash		97020
	(To record purchase of shares)
Mar 6	Cash (5100*0.35)	1785
	Dividend revenue		1785
	(To record dividend received)
June 7	Investments- Wong Inc.Stock (2000*24+130)	48130
	Cash		48130
	(To record purchase of shares)
July 26	Cash (6000*36-95)	215905
	Gain on sale of Investments		97226
	Investments- Wong Inc.Stock (97020+900*48130/2000)		118679
	(To record sale of shares)
Sept 25	Cash (5100+2000-6000)*0.40	440
	Dividend revenue		440
	(To record dividend received)