Entries for Investment in Stock, Receipt of Dividends, and Sale of Shares The following equity investment transactions were completed by Romero Company during a recent year: Apr. 10. Purchased 3,600 shares of Dixon Company for a price of $61.5 per share plus a brokerage commission of $1,800. July 8. Received a quarterly dividend of $0.55 per share on the Dixon Company investment. Sept. 10. Sold 2,400 shares for a price of $55 per share less a brokerage commission of $1,010. Journalize the entries for these transactions. If required, round the final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. Touss
Entries for Investment in Stock, Receipt of Dividends, and Sale of Shares The following equity investment transactions were completed by Romero Company during a recent year: Apr. 10. Purchased 3,600 shares of Dixon Company for a price of $61.5 per share plus a brokerage commission of $1,800. July 8. Received a quarterly dividend of $0.55 per share on the Dixon Company investment. Sept. 10. Sold 2,400 shares for a price of $55 per share less a brokerage commission of $1,010. Journalize the entries for these transactions. If required, round the final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. Touss
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Entries for Investment in Stock, Receipt of Dividends, and Sale of Shares
The following equity investment transactions were completed by Romero Company during a recent year:
Apr. 10.
Purchased 3,600 shares of Dixon Company for a price of $61.5 per share plus a brokerage commission of $1,800.
July 8.
Received a quarterly dividend of $0.55 per share on the Dixon Company investment.
Sept. 10. Sold 2,400 shares for a price of $55 per share less a brokerage commission of $1,010.
Journalize the entries for these transactions. If required, round the final answers to the nearest dollar.
For a compound transaction, if an amount box does not require an entry, leave it blank.
Apr. 10 - Purchase Investments-Dixon Company Stock
July 8 Dividend
Sept. 10-Sale
Cash
Cash
Dividend Revenue
Cash
Loss on Sale of Investments ✓
Investments-Dixon Company Stock
X
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