Plumbline Tech Corp. manufactures surveying equipment. Journalize the entries to record the following selected equity investment transactions completed by Plumbline
Feb. 2. Purchased for cash 900 shares of Devon Inc. stock for $54 per share plus a $450 brokerage commission
Apr. 16. Received dividends of $0.25 per share on Devon Inc. stock
June 17. Purchased 600 shares of Devon Inc. stock for $65 per share plus a $300 brokerage commission
Aug. 19. Sold 1,000 shares of Devon Inc. stock for $70 per share less a $500 brokerage commission. Plumb line assumes that the first investments purchased are the first investments sold
Nov. 14. Received dividends of $0.30 per share on Devon Inc. stocks
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Chapter # 15- Investments and Fair Value Accounting
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Question Posted: September 05, 2011 07:33:01