On September 12, 2,600 shares of Aspen Company are acquired at a price of $48.00 per share plus a $130 brokerage commission. On October 15, a $1.00-per-share dividend was received on the Aspen Company stock. On November 10, 1,040.00 shares of the Aspen Company stock were sold for $43 per share less a $52 brokerage commission. When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. Prepare the journal entries for the original purchase, the dividend, and the sale under the cost method. Sept. 12 Investments-Aspen Company Stock fill in the blank 2 Cash fill in the blank 4 Oct. 15 Cash fill in the blank 6 fill in the blank 8 Nov. 10 fill in the blank 10 fill in the blank 11 fill in the blank 13 fill in the blank 14
On September 12, 2,600 shares of Aspen Company are acquired at a price of $48.00 per share plus a $130 brokerage commission. On October 15, a $1.00-per-share dividend was received on the Aspen Company stock. On November 10, 1,040.00 shares of the Aspen Company stock were sold for $43 per share less a $52 brokerage commission. When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. Prepare the journal entries for the original purchase, the dividend, and the sale under the cost method. Sept. 12 Investments-Aspen Company Stock fill in the blank 2 Cash fill in the blank 4 Oct. 15 Cash fill in the blank 6 fill in the blank 8 Nov. 10 fill in the blank 10 fill in the blank 11 fill in the blank 13 fill in the blank 14
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On September 12, 2,600 shares of Aspen Company are acquired at a price of $48.00 per share plus a $130 brokerage commission. On October 15, a $1.00-per-share dividend was received on the Aspen Company stock. On November 10, 1,040.00 shares of the Aspen Company stock were sold for $43 per share less a $52 brokerage commission.
When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank.
Prepare the
| Sept. 12 | Investments-Aspen Company Stock | fill in the blank 2 | |
| Cash | fill in the blank 4 | ||
| Oct. 15 | Cash | fill in the blank 6 | |
| fill in the blank 8 | |||
| Nov. 10 | fill in the blank 10 | fill in the blank 11 | |
| fill in the blank 13 | fill in the blank 14 | ||
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