Question: Murray Corp manufactures surveying equipment Journalize the entries to record

Murray Corp. manufactures surveying equipment. Journalize the entries to record the following selected equity investment transactions completed by Murray during 2014:
Jan. 16. Purchased for cash 3,000 shares of McDowell Inc. stock for $25 per share plus a $140 brokerage commission.
Mar. 23. Received dividends of $0.46 per share on McDowell Inc. stock.
May 25. Purchased 1,000 shares of McDowell Inc. stock for $35 per share plus a $160 brokerage commission.
July 10. Sold 3,200 shares of McDowell Inc. stock for $40 per share less a $200 brokerage commission. Murray assumes that the first investments purchased are the first investments sold.
Oct. 12. Received dividends of $0.51 per share on McDowell Inc. stock.


View Solution:


Sale on SolutionInn
Sales5
Views413
Comments
  • CreatedFebruary 28, 2014
  • Files Included
Post your question
5000