Stock Investment Transactions On September 12, 3,600 shares of Aspen Company are acquired at a price of $32.00 per share plus a $180 brokerage commission. On October 15, a $1.30-per-share dividend was received on the Aspen Company stock. On November 10, 1,440.00 shares of the Aspen Company stock were sold for $25 per share less a $72 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 Investments-Aspen Company Stock 115,380 Sept. 12 Cash 115,380 Oct. 15 Cash 4,680 Dividend Revenue 4,680 V Nov. 10 CashY 35,928 V Loss on Sale of Investments 21,762X Investments-Aspen Company Stock 57,690 X

Stock Investment Transactions On September 12, 3,600 shares of Aspen Company are acquired at a price of $32.00 per share plus a $180 brokerage commission. On October 15, a $1.30-per-share dividend was received on the Aspen Company stock. On November 10, 1,440.00 shares of the Aspen Company stock were sold for $25 per share less a $72 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 Investments-Aspen Company Stock 115,380 Sept. 12 Cash 115,380 Oct. 15 Cash 4,680 Dividend Revenue 4,680 V Nov. 10 CashY 35,928 V Loss on Sale of Investments 21,762X Investments-Aspen Company Stock 57,690 X

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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