Q2 Hungh Company had the following transactions pertaining to short-term investments in equity securities. Jan....
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Q2 Hungh Company had the following transactions pertaining to short-term investments in equity securities. Jan. 1 Purchased 1,500 shares of Antuni Company stock for $9,500 cash. June 1 Received cash dividends of $.40 per share on Antuni Company stock. Sept. 15 Sold 375 shares of Antuni Company stock for $2,300 less brokerage fees of $100. Dec. 1 Received cash dividends of $.80 per share on Antuni Company stock. Instructions (a) Journalize the transactions. (b) Indicate the income statement effects of the transactions.
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