The following equity investment transactions were completed by Vintage Company during a recent year: Apr. 10. Purchased 2,300 shares of Delew Company’s common stock for a price of $49.85 per share plus a brokerage commission of $345. Delew Company has 260,000 shares of common stock outstanding. July 8. Received a quarterly dividend of $0.25 per share on the Delew Company investment. Sept. 10. Sold 1,500 shares for a price of $45 per share less a brokerage commission of $190. Dec. 31. At the end of the accounting period, the fair value of the remaining 800 shares of Delew Company’s stock was $49.50 per share. Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. If required, round the final answers to the nearest dollar. Apr. 10 - Purchase Investments-Delew Company Stock Cash July 8 - Dividend Cash Dividend Revenue Sept. 10 - Sale Cash Loss on Sale of Investments Investments-Delew Company Stock Dec. 31 Unrealized Loss on Equity Investments Valuation Allowance for Equity Investments
The following equity investment transactions were completed by Vintage Company during a recent year: Apr. 10. Purchased 2,300 shares of Delew Company’s common stock for a price of $49.85 per share plus a brokerage commission of $345. Delew Company has 260,000 shares of common stock outstanding. July 8. Received a quarterly dividend of $0.25 per share on the Delew Company investment. Sept. 10. Sold 1,500 shares for a price of $45 per share less a brokerage commission of $190. Dec. 31. At the end of the accounting period, the fair value of the remaining 800 shares of Delew Company’s stock was $49.50 per share. Journalize the entries for these transactions. If an amount box does not require an entry, leave it blank. If required, round the final answers to the nearest dollar. Apr. 10 - Purchase Investments-Delew Company Stock Cash July 8 - Dividend Cash Dividend Revenue Sept. 10 - Sale Cash Loss on Sale of Investments Investments-Delew Company Stock Dec. 31 Unrealized Loss on Equity Investments Valuation Allowance for Equity Investments
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter12: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 4COP: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,...
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The following equity investment transactions were completed by Vintage Company during a recent year:
Apr. | 10. | Purchased 2,300 shares of Delew Company’s common stock for a price of $49.85 per share plus a brokerage commission of $345. Delew Company has 260,000 shares of common stock outstanding. |
July | 8. | Received a quarterly dividend of $0.25 per share on the Delew Company investment. |
Sept. | 10. | Sold 1,500 shares for a price of $45 per share less a brokerage commission of $190. |
Dec. | 31. | At the end of the accounting period, the fair value of the remaining 800 shares of Delew Company’s stock was $49.50 per share. |
Apr. 10 - Purchase |
|
Investments-Delew Company Stock | |
|
Cash | ||
July 8 - Dividend |
|
Cash | |
|
Dividend Revenue | ||
Sept. 10 - Sale |
|
Cash | |
|
Loss on Sale of Investments | ||
|
Investments-Delew Company Stock | ||
Dec. 31 |
|
Unrealized Loss on Equity Investments | |
|
Valuation Allowance for Equity Investments |
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