Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed

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Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during 2016:

Feb. 2. Purchased for cash 5,300 shares of Wong Inc. stock for $20 per share plus a $110 brokerage commission.

Mar. 6. Received dividends of $0.30 per share on Wong Inc. stock.

June 7. Purchased 2,000 shares of Wong Inc. stock for $26 per share plus a $120 brokerage commission.

July 26. Sold 6,000 shares of Wong Inc. stock for $35 per share less a $100 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold.

Sept. 25. Received dividends of $0.40 per share on Wong Inc. stock.

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Financial and Managerial Accounting

ISBN: 978-1285866307

13th edition

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

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