On January 23, 10,000 shares of Tolle Company are acquired at a price of $30 per share plus a $100 brokerage commission On April 12, a $0 50 per share dividend was received on the Tolle Company stock On June 10, 4,000 shares of the Tolle Company stock were sold for $34 per share less a $100 brokera...

Jan 23 Investments x Tolle Company Stock 300100 Cash 300100 10000 shar ...

On January 23, 10,000 shares of Tolle Company are acquired at a price of $30 per share

Question:

On January 23, 10,000 shares of Tolle Company are acquired at a price of $30 per share plus a $100 brokerage commission. On April 12, a $0.50-per-share was received on the Tolle Company stock. On June 10, 4,000 shares of the Tolle Company stock were sold for $34 per share less a $100 brokerage commission. Prepare the journal entries for the original purchase, the and the sale under the cost method.
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...