Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following investment

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Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year:

Feb. 24. Acquired 1,000 shares of Tett Co. stock for $85 per share plus a $150 brokerage commission.

May 16. Acquired 2,500 shares of Issacson Co. stock for $36 per share plus a $100 commission.

July 14. Sold 400 shares of Tett Co. stock for $100 per share less a $75 brokerage commission.

Aug. 12. Sold 750 shares of Issacson Co. stock for $32.50 per share less an $80 brokerage commission.

Oct. 31. Received dividends of $0.40 per share on Tett Co. stock.

Journalize the entries for these transactions.


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Financial And Managerial Accounting

ISBN: 9781337119207

14th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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