Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment...
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Accounting
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 Inc. stock for $65 per share less a $600 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.
In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank.
Feb. 2
Investments-Wong Inc. Stock
Cash
Mar. 16
Cash
Dividend Revenue
June 7
Investments-Wong Inc. Stock
Cash
July 26
Cash
***Can someone explain how to get the answers here -->