July 1 purchased 350 shares of bateman company stock at 22

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Reference no: EM13484510

Investment in Trading Securities-Journal Entries

Prepare the journal entries to account for the following investment transactions of Samuelson Company:

2011
July 1 Purchased 350 shares of Bateman Company stock at $22 per share plus a brokerage fee of $600. The Bateman stock is classi?ed as trading.
Oct. 31 Received a cash dividend of $2.00 per share on the Bateman stock.
Dec. 31 At year-end, Bateman stock had a market price of $19 per share.

2012
Feb. 20 Sold 175 shares of the Bateman stock for $26 per share.
Oct. 31 Received a cash dividend of $2.20 per share on the Bateman stock.
Dec. 31 At year-end, Bateman stock had a market price of $29 per share.

Reference no: EM13484510

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