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Stock Investment TransactionsOn September 12, 2,700 shares of Aspen Company are acquired at a price of $54.00 per share plus a $135 brokerage commission. On October 15, a $0.90-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 $47 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             Oct. 15             Nov. 10

Stock Investment TransactionsOn September 12, 2,700 shares of Aspen Company are acquired at a price of $54.00 per share plus a $135 brokerage commission. On October 15, a $0.90-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 $47 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             Oct. 15             Nov. 10

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Stock Investment Transactions
On September 12, 2,700 shares of Aspen Company are acquired at a price of $54.00 per share plus a $135 brokerage commission. On October 15, a $0.90-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 $47 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

 

 

 

 

 

 

Oct. 15

 

 

 

 

 

 

Nov. 10

 

 

 

 

 

 

 

 

 

 

 

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