The following equity investment transactions were completed by Vintage Company during a recent year:Apr.10.Purchased 2,300 shares of Delew Company’s common stock for a price of $49.85 per share plus a brokerage commission of $345. Delew Company has 260,000 shares of common stock outstanding.July8.Received a quarterly dividend of $0.25 per share on the Delew Company investment.Sept.10.Sold 1,500 shares for a price of $45 per share less a brokerage commission of $190.Dec.31.At the end of the accounting period, the fair value of the remaining 800 shares of Delew Company’s stock was $49.50 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. Apr. 10 - Purchase Investments-Delew Company Stock Cash July 8 - Dividend Cash Dividend Revenue Sept. 10 - Sale Cash Loss on Sale of Investments Investments-Delew Company Stock Dec. 31 Unrealized Loss on Equity Investments Valuation Allowance for Equity Investments

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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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The following equity investment transactions were completed by Vintage Company during a recent year:

Apr.	10.	Purchased 2,300 shares of Delew Company’s common stock for a price of $49.85 per share plus a brokerage commission of $345. Delew Company has 260,000 shares of common stock outstanding.
July	8.	Received a quarterly dividend of $0.25 per share on the Delew Company investment.
Sept.	10.	Sold 1,500 shares for a price of $45 per share less a brokerage commission of $190.
Dec.	31.	At the end of the accounting period, the fair value of the remaining 800 shares of Delew Company’s stock was $49.50 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.

Apr. 10 - Purchase		Investments-Delew Company Stock
		Cash
July 8 - Dividend		Cash
		Dividend Revenue
Sept. 10 - Sale		Cash
		Loss on Sale of Investments
		Investments-Delew Company Stock
Dec. 31		Unrealized Loss on Equity Investments
		Valuation Allowance for Equity Investments

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