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Prepare the journal entries to account for these transaction

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Question - The following are 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 classified 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.

Prepare the journal entries to account for these transactions.

Reference no: EM132000655

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