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On March 22, purchased 860 shares of RPI Company stock at $21 per share. Duke's stock investment results in it having an insignificant influence over RPI. On July 1, received a $3 per share cash dividend on the RPI stock purchased in part a. On October 8, sold 430 shares of RPI stock for $31 per share. Prepare journal entries to record the given transactions involving the short-term stock investments of Duke Company, all of which occurred during the current year. 1 On March 22, purchased 860 shares of RPI Company stock at $21 per share. Duke's stock investment results in it having an insignificant influence over RPI.   2 On July 1, received a $3 per share cash dividend on the RPI stock purchased in part a.   3 On October 8, sold 430 shares of RPI stock for $31 per share.

On March 22, purchased 860 shares of RPI Company stock at $21 per share. Duke's stock investment results in it having an insignificant influence over RPI. On July 1, received a $3 per share cash dividend on the RPI stock purchased in part a. On October 8, sold 430 shares of RPI stock for $31 per share. Prepare journal entries to record the given transactions involving the short-term stock investments of Duke Company, all of which occurred during the current year. 1 On March 22, purchased 860 shares of RPI Company stock at $21 per share. Duke's stock investment results in it having an insignificant influence over RPI.   2 On July 1, received a $3 per share cash dividend on the RPI stock purchased in part a.   3 On October 8, sold 430 shares of RPI stock for $31 per share.

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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  1. On March 22, purchased 860 shares of RPI Company stock at $21 per share. Duke's stock investment results in it having an insignificant influence over RPI.
  2. On July 1, received a $3 per share cash dividend on the RPI stock purchased in part a.
  3. On October 8, sold 430 shares of RPI stock for $31 per share.

Prepare journal entries to record the given transactions involving the short-term stock investments of Duke Company, all of which occurred during the current year.

  • 1
    On March 22, purchased 860 shares of RPI Company stock at $21 per share. Duke's stock investment results in it having an insignificant influence over RPI.
     
  • 2
    On July 1, received a $3 per share cash dividend on the RPI stock purchased in part a.
     
  • 3
    On October 8, sold 430 shares of RPI stock for $31 per share.
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