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Use the following information for the Exercises below. (Algo) Skip to question [The...

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Accounting

Use the following information for the Exercises below. (Algo)

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[The following information applies to the questions displayed below.]

  1. On March 22, purchased 850 shares of RPI Company stock at $20 per share. Duke's stock investment results in it having an insignificant influence over RPI.
  2. On July 1, received a $3 per share cash dividend on the RPI stock purchased in part a.
  3. On October 8, sold 425 shares of RPI stock for $30 per share.

Exercise 15-8 (Algo) Accounting for stock investments with insignificant influence LO P4

Prepare journal entries to record the given transactions involving the short-term stock investments of Duke Company, all of which occurred during the current year.

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