BGJ Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April 16 Purchased 4,500 shares of OnPoint Company stock at $30 per share. July 7 Purchased 3,000 shares of Eco Company stock at $55 per share. July 20 Purchased 1,400 shares of Lafayette Company stock at $22 per share. August 15 Received an $1.10 per share cash dividend on the OnPoint Company stock. August 28 Sold 2,700 shares of OnPoint Company stock at $33 per share. October 1 Received a $5.20 per share cash dividend on the Eco Company shares. December 15 Received a $1.30 per share cash dividend on the remaining OnPoint Company shares. December 31 Received a $4.60 per share cash dividend on the Eco Company shares.
BGJ Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April 16 Purchased 4,500 shares of OnPoint Company stock at $30 per share. July 7 Purchased 3,000 shares of Eco Company stock at $55 per share. July 20 Purchased 1,400 shares of Lafayette Company stock at $22 per share. August 15 Received an $1.10 per share cash dividend on the OnPoint Company stock. August 28 Sold 2,700 shares of OnPoint Company stock at $33 per share. October 1 Received a $5.20 per share cash dividend on the Eco Company shares. December 15 Received a $1.30 per share cash dividend on the remaining OnPoint Company shares. December 31 Received a $4.60 per share cash dividend on the Eco Company shares.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Based on the following infromation what would the general
BGJ Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence.
April 16 | Purchased 4,500 shares of OnPoint Company stock at $30 per share. |
---|---|
July 7 | Purchased 3,000 shares of Eco Company stock at $55 per share. |
July 20 | Purchased 1,400 shares of Lafayette Company stock at $22 per share. |
August 15 | Received an $1.10 per share cash dividend on the OnPoint Company stock. |
August 28 | Sold 2,700 shares of OnPoint Company stock at $33 per share. |
October 1 | Received a $5.20 per share cash dividend on the Eco Company shares. |
December 15 | Received a $1.30 per share cash dividend on the remaining OnPoint Company shares. |
December 31 | Received a $4.60 per share cash dividend on the Eco Company shares. |
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
For each transaction, indicate the change, if any, in total assets and total equity. If equity changes, indicate whether the change was reflected as a component of net income, or directly within the
How would I complete the table?
![Apr. 16) Purchased 4,500 shares of OnPoint Company stock at $30
per share.
Jul. 7) Purchased 3,000 shares of Eco Company stock at $55 per
share.
Jul. 20) Purchased 1,400 shares of Lafayette Company stock at $22
per share.
Aug. 15) Received an $1.10 per share cash dividend on the OnPoint
Company stock.
Aug. 28) Sold 2,700 shares of OnPoint Company stock at $33 per
share.
Oct. 1) Received a $5.20 per share cash dividend on the Eco
Company shares.
Dec. 15) Received a $1.30 per share cash dividend on the remaining
OnPoint Company shares.
Dec. 31) Received a $4.60 per share cash dividend on the Eco
Company shares.
Dec. 31) Adjusted the securities to year-end fair value.
Totals
Change in
Total assets
$
Change in equity:
As a direct
As a
component of component of Total change
net income
in equity
stockholders'
equity
0 $
0 $
$
0 $
0
0
0
0
0
0
0
000](https://content.bartleby.com/qna-images/question/0a87d611-8110-4508-8db9-7cba619c6835/e7d955de-96d2-41de-a20d-7bf07bcc3b38/76g7cod_thumbnail.png)
Transcribed Image Text:Apr. 16) Purchased 4,500 shares of OnPoint Company stock at $30
per share.
Jul. 7) Purchased 3,000 shares of Eco Company stock at $55 per
share.
Jul. 20) Purchased 1,400 shares of Lafayette Company stock at $22
per share.
Aug. 15) Received an $1.10 per share cash dividend on the OnPoint
Company stock.
Aug. 28) Sold 2,700 shares of OnPoint Company stock at $33 per
share.
Oct. 1) Received a $5.20 per share cash dividend on the Eco
Company shares.
Dec. 15) Received a $1.30 per share cash dividend on the remaining
OnPoint Company shares.
Dec. 31) Received a $4.60 per share cash dividend on the Eco
Company shares.
Dec. 31) Adjusted the securities to year-end fair value.
Totals
Change in
Total assets
$
Change in equity:
As a direct
As a
component of component of Total change
net income
in equity
stockholders'
equity
0 $
0 $
$
0 $
0
0
0
0
0
0
0
000
Solution
Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education