Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year: May 16 Acquired 500 shares of Tett Co.'s stock for $112 per share plus a $125 brokerage commission. Acquired 2,400 shares of Issacson Co.'s stock for $47 per share plus a $240 commission. Sold 200 shares of Tett Co. stock for $124 per share less a $81 brokerage commission. July 14 Aug. 12 Sold 900 shares of Issacson Co. stock for $37 per share less a $115 brokerage commission. Oct. 31 Received dividends of $0.36 per share on Tett Co. stock. Dec. 31 At the end of the accounting period, the fair value of the remaining 300 shares of Tett Co.'s stock was $112.45 per share. The fair value of the remaining 1,500 shares of Isaacson Co.'s stock was equal to its cost of $47.1 per share. Feb. 24
Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year: May 16 Acquired 500 shares of Tett Co.'s stock for $112 per share plus a $125 brokerage commission. Acquired 2,400 shares of Issacson Co.'s stock for $47 per share plus a $240 commission. Sold 200 shares of Tett Co. stock for $124 per share less a $81 brokerage commission. July 14 Aug. 12 Sold 900 shares of Issacson Co. stock for $37 per share less a $115 brokerage commission. Oct. 31 Received dividends of $0.36 per share on Tett Co. stock. Dec. 31 At the end of the accounting period, the fair value of the remaining 300 shares of Tett Co.'s stock was $112.45 per share. The fair value of the remaining 1,500 shares of Isaacson Co.'s stock was equal to its cost of $47.1 per share. Feb. 24
Chapter1: Financial Statements And Business Decisions
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