The following equity investment transactions were completed by Vintage Company during a recent year: Apr. 10. Purchased 11,000 shares of Delew Company's common stock for a price of $60 per share plus a brokerage commission of $220. Delew Company has 250,000 shares of common stock outstanding. July 8. Sept. 10. Dec. 31. Received a quarterly dividend of $0.85 per share on the Delew Company investment. Sold 3,000 shares for a price of $54 per share less a brokerage commission of $90. At the end of the accounting period, the fair value of the remaining 8,000 shares of Delew Company's stock was $59.90 per share. Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. If required, round the final answers to the nearest dollar.

The following equity investment transactions were completed by Vintage Company during a recent year: Apr. 10. Purchased 11,000 shares of Delew Company's common stock for a price of $60 per share plus a brokerage commission of $220. Delew Company has 250,000 shares of common stock outstanding. July 8. Sept. 10. Dec. 31. Received a quarterly dividend of $0.85 per share on the Delew Company investment. Sold 3,000 shares for a price of $54 per share less a brokerage commission of $90. At the end of the accounting period, the fair value of the remaining 8,000 shares of Delew Company's stock was $59.90 per share. Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. If required, round the final answers to the nearest dollar.

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter12: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 4COP: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,...

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Question

The following equity investment transactions were completed by Vintage Company during a recent year:
Apr.
10. Purchased 11,000 shares of Delew Company's common stock for a price of $60 per share plus a
brokerage commission of $220. Delew Company has 250,000 shares of common stock
outstanding.
Received a quarterly dividend of $0.85 per share on the Delew Company investment.
Sold 3,000 shares for a price of $54 per share less a brokerage commission of $90.
July 8.
Sept. 10.
Dec. 31. At the end of the accounting period, the fair value of the remaining 8,000 shares of Delew
Company's stock was $59.90 per share.
Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. If required, round the final answers to the nearest dollar.

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