Reference no: EM131826387
Problem - Perry company had no short-term investment prior to year 2011. It had the following transactions involving short-term investment in available for-sale securities during 2011.
April 16 purchased 8,000 shares of Gem Co. stock at $24.25 per share plus a $360 brokerage fee.
May 1 paid $200,000 to buy 90-day U.S treasury bills 9 (debt securities); $200,000 principle amount 6% interest securities dated may 1
July 7 purchased 4,000 shares of Pepsi Co stock at $49.25 share plus a $350 brokerage fee.
20 purchased 2,000 share of Xerox stock at $16.75 per share plus $ 410 brokerage fee.
Aug. 3 received a check for principle and accrued interest on the US. Treasury bills that matured on July 29
Aug. 15 received an 0.85 per share cash dividend on the Gem Co. stock.
Aug. 28 solid 4,000 shares of Gem Co. stock at $ 30 per share less a $450 brokerage fee.
Oct.1 received a $ 1.90 per share cash dividend on the PepsiCo shares
Dec. 15 received a $ 1.05 per share cash dividend on the remaining Gem Co shares.
Dec 31 received a $1.30 per share cash dividend on the PepsiCo shares.
Prepare journal entries to record preceding transcations and events.
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