Bird Beak Corporation made the following available-for-sale securities transactions: Jan. 14 Purchased 4,000 shares of Pinegar Corporation
Question:
Bird Beak Corporation made the following available-for-sale securities transactions:
Jan. 14 Purchased 4,000 shares of Pinegar Corporation common stock at $20.80 per share.
Mar. 31 Received a cash dividend of $0.25 per share on the Pinegar stock.
Aug. 28 Sold 1,600 shares of Pinegar stock at $22.60 per share.
Dec. 31 The market value of the Pinegar stock was $24 per share.
Prepare journal entries to record the transactions.
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... 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...
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Jan 14 Investment in AvailableforSale Securities Pinegar Corporation 83200 Cash 83200 Purchased 400...View the full answer
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Related Book For 
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ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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