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om Inc had these transactions pertaining to investments in common stock   Jan 1 Purchased 1,290 sares of Gate Corporation stick(5% of outstanding shares)for $64500 cash   July 1 Received a cash dividend of $8 per share   Dec 1 Sold 860 shares of Gate

om Inc had these transactions pertaining to investments in common stock   Jan 1 Purchased 1,290 sares of Gate Corporation stick(5% of outstanding shares)for $64500 cash   July 1 Received a cash dividend of $8 per share   Dec 1 Sold 860 shares of Gate

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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Blossom Inc had these transactions pertaining to investments in common stock

 
Jan 1 Purchased 1,290 sares of Gate Corporation stick(5% of outstanding shares)for $64500 cash
 
July 1 Received a cash dividend of $8 per share
 
Dec 1 Sold 860 shares of Gate crppration commonstock for 44,720 cash
 
Dec 31. Received a cash dividwnd of $8 per share
 
journalize the transactions 
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