/E12-4 Diann Company Ltd. had the following transactions pertaining to share investments. Feb. 1 Purchased 600...
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/E12-4 Diann Company Ltd. had the following transactions pertaining to share investments. Feb. 1 Purchased 600 ordinary shares of Ronn (2%) for £6,200. July 1 Received cash dividends of £1 per share on Ronn ordinary shares. Sept. 1 Sold 300 ordinary shares of Ronn for £4,300. Dec. 1 Received cash dividends of £1 per share on Ronn ordinary shares. Instructions (a) Journalize the transactions. (b) Explain how dividend revenue and the gain (loss) on sale should be reported in the income statement. /E12-4 Diann Company Ltd. had the following transactions pertaining to share investments. Feb. 1 Purchased 600 ordinary shares of Ronn (2%) for £6,200. July 1 Received cash dividends of £1 per share on Ronn ordinary shares. Sept. 1 Sold 300 ordinary shares of Ronn for £4,300. Dec. 1 Received cash dividends of £1 per share on Ronn ordinary shares. Instructions (a) Journalize the transactions. (b) Explain how dividend revenue and the gain (loss) on sale should be reported in the income statement.
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Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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