On February 12, 5,000 shares of Mid Ex Company are acquired at a price of $24 per share plus a $200 brokerage fee On April 22, a $0 36 per share dividend was received on the Mid Ex Company stock On May 10, 4,000 shares of the Mid Ex Company stock were sold for $31 per share less a $160 brokerage fe...

Feb 12 InvestmentsMidEx Company Stock 120200 Cash 120200 500 ...

On February 12, 5,000 shares of Mid-Ex Company are acquired at a price of $24 per share

Question:

On February 12, 5,000 shares of Mid-Ex Company are acquired at a price of $24 per share plus a $200 brokerage fee. On April 22, a $0.36-per-share was received on the Mid-Ex Company stock. On May 10, 4,000 shares of the Mid-Ex Company stock were sold for $31 per share less a $160 brokerage fee. Prepare the journal entries for the original purchase, and sale.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...