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Record the selected equity investment transactions

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Problem - Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year:

Feb. 2. Purchased for cash 5,300 shares of Wong Inc. stock for $20 per share plus a $110 brokerage commission.

Mar. 6. Received dividends of $0.30 per share on Wong Inc. stock.

June 7. Purchased 2,000 shares of Wong Inc. stock for $26 per share plus a $120 brokerage commission.

July 26. Sold 6,000 shares of Wong Inc. stock for $35 per share less a $100 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold.

Sept. 25. Received dividends of $0.40 per share on Wong Inc. stock.

Reference no: EM132692274

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