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llowing equity investment transactions were completed by Vintage Company during a recent year: Apr. 10 Purchased 5,000 shares of Delew Company's common stock for a price of $49 per share brokerage commission of $90. Delew Company has 230,000 shares of common stock out

llowing equity investment transactions were completed by Vintage Company during a recent year: Apr. 10 Purchased 5,000 shares of Delew Company's common stock for a price of $49 per share brokerage commission of $90. Delew Company has 230,000 shares of common stock out

FINANCIAL ACCOUNTING
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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Instructions The following equity investment transactions were completed by Vintage Company during a recent year: Apr. July Sept. Dec. X 10 $ 8 F4 10 Required: Journalize the entries for these transactions. Refer to the chart of accounts for the exact wording of the account titles. journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW 31 Check My Work 2 more Check My Work uses remaining. Purchased 5,000 shares of Delew Company's common stock for a price of $49 per share plus a brokerage commission of $90. Delew Company has 230,000 shares of common stock outstanding Received a quarterly dividend of $1.00 per share on the Delew Company investment. Sold 1,100 shares for a price of $44 per share less a brokerage commission of $70. At the end of the accounting period, the fair value of the remaining 3,900 shares of Delew Company stock was $48.52 per share. Q Search C F5 % F6 + F7 LDFING & F8 F9 F10 F11 F12 F P
Transcribed Image Text:Instructions The following equity investment transactions were completed by Vintage Company during a recent year: Apr. July Sept. Dec. X 10 $ 8 F4 10 Required: Journalize the entries for these transactions. Refer to the chart of accounts for the exact wording of the account titles. journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW 31 Check My Work 2 more Check My Work uses remaining. Purchased 5,000 shares of Delew Company's common stock for a price of $49 per share plus a brokerage commission of $90. Delew Company has 230,000 shares of common stock outstanding Received a quarterly dividend of $1.00 per share on the Delew Company investment. Sold 1,100 shares for a price of $44 per share less a brokerage commission of $70. At the end of the accounting period, the fair value of the remaining 3,900 shares of Delew Company stock was $48.52 per share. Q Search C F5 % F6 + F7 LDFING & F8 F9 F10 F11 F12 F P
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