Assume all investments are short-term and readily marketable. The following transactions occurred. June 2; purchased 300 shares of Beaty Corporation common stock for $45 per share; July 1; purchased 200 Meng Corporation bonds for $220,000; July 30; received a cash dividend of $2 per share from Beaty Corporation; September 15; sold 90 shares of Beaty Corporation stock for $50 per share; December 31; received semiannual interest check for $11,000 from Meng Corporation December 31; received a cash dividends of $2 per share from Beaty Corporation. Instructions: journalize the transactions.
Assume all investments are short-term and readily marketable. The following transactions occurred. June 2; purchased 300 shares of Beaty Corporation common stock for $45 per share; July 1; purchased 200 Meng Corporation bonds for $220,000; July 30; received a cash dividend of $2 per share from Beaty Corporation; September 15; sold 90 shares of Beaty Corporation stock for $50 per share; December 31; received semiannual interest check for $11,000 from Meng Corporation December 31; received a cash dividends of $2 per share from Beaty Corporation. Instructions: journalize the transactions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assume all investments are short-term and readily marketable. The following transactions occurred.
June 2; purchased 300 shares of Beaty Corporation common stock for $45 per share;
July 1; purchased 200 Meng Corporation bonds for $220,000;
July 30; received a cash dividend of $2 per share from Beaty Corporation;
September 15; sold 90 shares of Beaty Corporation stock for $50 per share;
December 31; received semiannual interest check for $11,000 from Meng Corporation
December 31; received a cash dividends of $2 per share from Beaty Corporation.
Instructions: journalize the transactions.
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