Stock Investment Transactions On September 12, 2,700 shares of Aspen Company are acquired at a price of $62.00 per share plus a $135 brokerage commission. On October 15, a $1.20- per-share dividend was received on the Aspen Company stock. On November 10, 1,080.00 shares of the Aspen Company stock were sold for $57 per share less a $54 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 167,535 Cash 167,535 Oct. 15 Cash 3,240 Dividend Revenue 3,240 Nov. 10

Stock Investment Transactions On September 12, 2,700 shares of Aspen Company are acquired at a price of $62.00 per share plus a $135 brokerage commission. On October 15, a $1.20- per-share dividend was received on the Aspen Company stock. On November 10, 1,080.00 shares of the Aspen Company stock were sold for $57 per share less a $54 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 167,535 Cash 167,535 Oct. 15 Cash 3,240 Dividend Revenue 3,240 Nov. 10

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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