Question

On April 18, Riley Co. made a short- term investment in 300 common shares of XLT Co. The purchase price is $ 42 per share and the broker’s fee is $ 250. The intent is to actively manage these shares for profit. On May 30, Riley Co. receives $ 1 per share from XLT in dividends. Prepare the April 18 and May 30 journal entries to record these transactions.



$1.99
Sales3
Views478
Comments0
  • CreatedNovember 26, 2013
  • Files Included
Post your question
5000