Entries for Equity Investments: Less than 20% Ownership The following equity investment transactions were completed by Vintage Company during a recent year: Apr. 10. Purchased 3,500 shares of Delew Company's common stock for a price of $51.85 per share plus a brokerage commission of $525. Delew Company has 265,000 shares of common stock outstanding. July 8. Received a quarterly dividend of $0.60 per share on the Delew Company investment. Sept. 10. Sold 2,300 shares for a price of $46 per share less a brokerage commission of $290. Dec. 31. At the end of the accounting period, the fair value of the remaining 1,200 shares of Delew Company's stock was $51.50 per share. Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. If required, round the final answers to the nearest dollar. Apr. 10 - Purchase July 8 - Dividend Sept. 10 - Sale Dec. 31 II II
Entries for Equity Investments: Less than 20% Ownership The following equity investment transactions were completed by Vintage Company during a recent year: Apr. 10. Purchased 3,500 shares of Delew Company's common stock for a price of $51.85 per share plus a brokerage commission of $525. Delew Company has 265,000 shares of common stock outstanding. July 8. Received a quarterly dividend of $0.60 per share on the Delew Company investment. Sept. 10. Sold 2,300 shares for a price of $46 per share less a brokerage commission of $290. Dec. 31. At the end of the accounting period, the fair value of the remaining 1,200 shares of Delew Company's stock was $51.50 per share. Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. If required, round the final answers to the nearest dollar. Apr. 10 - Purchase July 8 - Dividend Sept. 10 - Sale Dec. 31 II II
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Entries for Equity Investments: Less than 20% Ownership
The following equity investment transactions were completed by Vintage Company during a recent year:
Apr.
10. Purchased 3,500 shares of Delew Company's common stock for a price of $51.85 per share plus a brokerage
commission of $525. Delew Company has 265,000 shares of common stock outstanding.
July
8. Received a quarterly dividend of $0.60 per share on the Delew Company investment.
Sept. 10. Sold 2,300 shares for a price of $46 per share less a brokerage commission of $290.
Dec. 31. At the end of the accounting period, the fair value of the remaining 1,200 shares of Delew Company's stock was $51.50
per share.
Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. If required, round the final answers to the nearest dollar.
Apr. 10 - Purchase
July 8 - Dividend
Sept. 10 - Sale
Dec. 31](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fafc75c11-f74c-4700-aac3-dcc346278078%2F68a49ead-d374-48b1-b71b-955b26301866%2F5rokxfum_processed.png&w=3840&q=75)
Transcribed Image Text:Entries for Equity Investments: Less than 20% Ownership
The following equity investment transactions were completed by Vintage Company during a recent year:
Apr.
10. Purchased 3,500 shares of Delew Company's common stock for a price of $51.85 per share plus a brokerage
commission of $525. Delew Company has 265,000 shares of common stock outstanding.
July
8. Received a quarterly dividend of $0.60 per share on the Delew Company investment.
Sept. 10. Sold 2,300 shares for a price of $46 per share less a brokerage commission of $290.
Dec. 31. At the end of the accounting period, the fair value of the remaining 1,200 shares of Delew Company's stock was $51.50
per share.
Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. If required, round the final answers to the nearest dollar.
Apr. 10 - Purchase
July 8 - Dividend
Sept. 10 - Sale
Dec. 31
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