Solution a:
Date | General Journal | Debit | Credit |
15-Jan | Equity investment Dr | $296,544.00 | |
To Cash (8800*$33.50 + $1,744) | $296,544.00 | ||
(To record investment in sanchez company) | |||
1-Apr | Equity investment Dr | $231,764.00 | |
To Cash (4400*$52 + $2,964) | $231,764.00 | ||
(To record investment in sanchez company) | |||
10-Sep | Investment in preferred stock Dr | $167,560.00 | |
To Cash (6160*$26.50 + $4,320) | $167,560.00 | ||
(To record investment in preferred stock) |
Whispering Corporation made the following cash purchases of securities during 2020, which is the first year...
Vaughn Corporation made the following cash purchases of securities during 2020, which is the first year in which Vaughn invested in securities. 1. On January 15, purchased 8,800 shares of Sanchez Company’s common stock at $33.50 per share plus commission $1,744. 2. On April 1, purchased 4,400 shares of Vicario Co.’s common stock at $52 per share plus commission $2,964. 3. On September 10, purchased 6,160 shares of WTA Co.’s preferred stock at $26.50 per share plus commission $4,320. On...
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