Entries for Equity Investments: Less than 20% OwnershipThe following equity investment transactions were completed by Vintage Company during a recent year:Apr.10.Purchased 1,700 shares of Delew Company’s common stock for a price of $63.5 per share plus a brokerage commission of $850. Delew Company has 275,000 shares of common stock outstanding.July8.Received a quarterly dividend of $0.40 per share on the Delew Company investment.Sept.10.Sold 1,100 shares for a price of $57 per share less a brokerage commission of $480.Dec.31.At the end of the accounting period, the fair value of the remaining 600 shares of Delew Company’s stock was $63.50 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.needing help with part D Entries for Equity Investments: Less than 20% OwnershipThe following equity investment transactions were completed by Vintage Company during a recent year:10. Purchased 1,700 shares of Delew Company's common stock for a price of $63.5 per share plus aof $850. Delew Company has 275,000 shares of common stock outstanding.July8. Received a quarterly dividend of $0.40 per share on the Delew Company investment.Sept. 10. Sold 1,100 shares for a price of $57 per share less a brokerage commission of $480.Dec. 31. At the end of the accounting period, the fair value of the remaining 600 shares of Delew Comparper share.Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. IfApr.Apr. 10 - Purchase Investments-Delew Company StockJuly 8 - DividendSept. 10 - SaleDec. 31FeedbackCheck My WorkCash4Cash✓Dividend Revenue -✓CashLoss on Sale of Investments✔Investments-Delew Company StockUnrealized Loss on Equity InvestmentsValuation Allowance for Equity InvestmentsO EM108,800 ✓680g10062,220 ✓8,180 ✔✓0✓108,800Check My WorkWhen recording the purchase of the investment, consider the amount of the brokerage commission.Record the revenue earned.When recording the cash received, consider the commission. To complete the entry determine any gain6801070,4000All work saved.

Investment in equity is done by the individual or a company when stocks are issued by another…

Answered: Entries for Equity Investments: Less…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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 1,700 shares of Delew Company’s common stock for a price of $63.5 per share plus a brokerage commission of $850. Delew Company has 275,000 shares of common stock outstanding.
July	8.	Received a quarterly dividend of $0.40 per share on the Delew Company investment.
Sept.	10.	Sold 1,100 shares for a price of $57 per share less a brokerage commission of $480.
Dec.	31.	At the end of the accounting period, the fair value of the remaining 600 shares of Delew Company’s stock was $63.50 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.

needing help with part D

Entries for Equity Investments: Less than 20% Ownership
The following equity investment transactions were completed by Vintage Company during a recent year:
10. Purchased 1,700 shares of Delew Company's common stock for a price of $63.5 per share plus a
of $850. Delew Company has 275,000 shares of common stock outstanding.
July
8. Received a quarterly dividend of $0.40 per share on the Delew Company investment.
Sept. 10. Sold 1,100 shares for a price of $57 per share less a brokerage commission of $480.
Dec. 31. At the end of the accounting period, the fair value of the remaining 600 shares of Delew Compar
per share.
Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. If
Apr.
Apr. 10 - Purchase Investments-Delew Company Stock
July 8 - Dividend
Sept. 10 - Sale
Dec. 31
Feedback
Check My Work
Cash
4
Cash
✓
Dividend Revenue -✓
Cash
Loss on Sale of Investments
✔
Investments-Delew Company Stock
Unrealized Loss on Equity Investments
Valuation Allowance for Equity Investments
O E
M
108,800 ✓
680
g
100
62,220 ✓
8,180 ✔
✓
0
✓
108,800
Check My Work
When recording the purchase of the investment, consider the amount of the brokerage commission.
Record the revenue earned.
When recording the cash received, consider the commission. To complete the entry determine any gain
680
10
70,400
0
All work saved.

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