Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year: Feb. 2 Purchased for cash 800 shares of Wong Inc. stock for $36 per share plus a $400 brokerage commission. Mar. 16 Received dividends of $0.30 per share on Wong Inc. stock. June 7 Purchased 600 shares of Wong Inc. stock for $46 per share plus a $300 brokerage commission. July 26 Sold 900 shares of Wong Inc. stock for $51 per share less a $450 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold. Sept. 25 Received dividends of $0.40 per share on Wong Inc. stock. In your computations, round per share amounts to two decimal places. 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. Investments-Wong Inc. Stock / Cash v Feb. 2 106,110 x 106,110 X Mar. 16 Cash 1,590 X Dividend Revenue 1,590 X June 7 Investments-Wong Inc. Stock v Cash v 52,125 x 52,125 x July 26 Cash v Gain on Sale of Investments / Investments-Wong Inc. Stock Sept. 25 Cash Dividend Revenue

Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year: Feb. 2 Purchased for cash 800 shares of Wong Inc. stock for $36 per share plus a $400 brokerage commission. Mar. 16 Received dividends of $0.30 per share on Wong Inc. stock. June 7 Purchased 600 shares of Wong Inc. stock for $46 per share plus a $300 brokerage commission. July 26 Sold 900 shares of Wong Inc. stock for $51 per share less a $450 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold. Sept. 25 Received dividends of $0.40 per share on Wong Inc. stock. In your computations, round per share amounts to two decimal places. 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. Investments-Wong Inc. Stock / Cash v Feb. 2 106,110 x 106,110 X Mar. 16 Cash 1,590 X Dividend Revenue 1,590 X June 7 Investments-Wong Inc. Stock v Cash v 52,125 x 52,125 x July 26 Cash v Gain on Sale of Investments / Investments-Wong Inc. Stock Sept. 25 Cash Dividend Revenue

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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Rios Financial Co. is a regional insurance company that began operations on January 1, Year 1. The following transactions relate to trading securities acquired by Rios Financial Co., which has a fiscal year ending on December 31: Record these transactions on page 10: Year 1 Feb. 1. Purchased 7,500 shares of Caldwell Inc. as a trading security at $50 per share plus a brokerage commission of $75. May 1. Purchased 3,000 shares of Holland Inc. as a trading security at $42 plus a brokerage commission of $90. July 1. Sold 4,500 shares of Caldwell Inc. for $46 per share less a $110 brokerage commission. 31. Received an annual dividend of $0.50 per share on Caldwell Inc. stock. Dec. 31 The portfolio of trading securities was adjusted to fair values of $47 and $40 per share for Caldwell Inc. and Holland Inc., respectively. Record these transactions on page 11: Year 2 Apr. 1. Purchased 5,000 shares of Fuller Inc. as a trading security at $25…
Can you please help me Journalize this entry
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