suuctions Chart of Accounts JournalInstructionsSeamus Industries Inc. buys and sells investments as part of its ongoing cash management. Thefollowing investment transactions were completed during the year:Feb.MayJulyAug.Oct.24 Acquired 1,200 shares of Tett Co. stock for $82 per share plus a $140brokerage commission.Acquired 2,600 shares of Issacson Co. stock for $35 per share plus a$105 commission.16141231400 shares of Tett Co. stock for $100 per share less a $80brokerage commission.Sold 710 shares of Issacson Co. stock for $33.00 per share less an$85 brokerage commission.Received dividends of $0.40 per share on Tett Co. stock.Journalize the entries for these transactions. Refer to the Chart of Accounts for exact wording ofaccount titles. When required, round your answers to the nearest dollar.Check My Work 3 more Check My Work uses remaining.OAll work saved.DELL

Introduction: A journal entry is a record of a business deal in the accounting system of the…

Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. Th following investment transactions were completed during the year. Feb. 24 Acquired 1,200 shares of Tett Co. stock for $82 per share plus a $140 brokerage commission. Acquired 2,600 shares of Issacson Co. stock for $35 per share plus a $105 commission. May July Aug. Oct. 16 14 12 31 Sold 400 shares of Tett Co. stock for $100 per share less a $80 brokerage commission. Sold 710 shares of Issacson Co. stock for $33.00 per share less an $85 brokerage commission. Received dividends of $0.40 per share on Tett Co. stock.

Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. Th following investment transactions were completed during the year. Feb. 24 Acquired 1,200 shares of Tett Co. stock for $82 per share plus a $140 brokerage commission. Acquired 2,600 shares of Issacson Co. stock for $35 per share plus a $105 commission. May July Aug. Oct. 16 14 12 31 Sold 400 shares of Tett Co. stock for $100 per share less a $80 brokerage commission. Sold 710 shares of Issacson Co. stock for $33.00 per share less an $85 brokerage commission. Received dividends of $0.40 per share on Tett Co. stock.

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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