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Problem - Entries for Stock Investments and Dividends

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Problem - Entries for Stock Investments, Dividends, and Sale of Stock

Hombolt Industries, Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year:

Feb. 6. Acquired 500 shares of Randolph Co. stock for $112 per share plus a $125 brokerage commission.

Apr. 21. Acquired 1,400 shares of Sterling Co. stock for $28 per share plus a $98 commission.

Aug. 15. Sold 200 shares of Randolph Co. stock for $124 per share less an $80 brokerage commission.

Sept. 8. Sold 500 shares of Sterling Co. stock for $22.50 per share less a $70 brokerage commission.

Oct. 31. Received dividends of $0.26 per share on Randolph Co. stock.

Journalize the entries for these transactions.

Reference no: EM132683688

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