Stock investment transactions

Assignment Help Financial Accounting

Reference no: EM131214319

Stock Investment Transactions

On March 20, 10,000 shares of Thorlite Company are acquired at a price of $30 per share plus a $250 brokerage fee. On May 30, a $0.25-per-share dividend was received on the Thorlite Company stock. On June 15, 5,000 shares of the Thorlite Company stock were sold for $36 per share less a $200 brokerage fee.

In your computations, round per share amounts to three decimal places. When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. Prepare the journal entries for the original purchase, the dividend, and the sale under the cost method. I have all other entries except for 'june 15-sale' : 'gain on sale of investments' and 'investments- thorlite company stock'.

Reference no: EM131214319

Questions Cloud

Calculate the current value of the future payments : You invest $25,000 today at 8% per year. How much money will you have accumulated after 13 years? Your friend has learned that he is going to receive $7,500 a year for the next 10 years. Utilizing 5% interest rate, calculate the current value of the ..

Discount amortization : On the first day of the fiscal year, a company issues a $3,000,000, 11%, five-year bond that pays semiannual interest of $165,000 ($3,000,000 × 11% × ½), receiving cash of $2,889,599. Journalize the first interest payment and the amortization of the ..

Audit and assurance services : Audit and assurance services are. which are any services in which the CPA firm issues a report that expresses a conclusion about the reliability of an assertion that is the

Determine the amount of net income mazer would report : During its first year of operation Mazer Manufacturing Company produced 2,000 units of inventory and sold 1,800 units. Mazer incurred variable product cost of $4 per unit and $2,500 of fixed manufacturing overhead costs. The sales price of the produc..

Stock investment transactions : On March 20, 10,000 shares of Thorlite Company are acquired at a price of $30 per share plus a $250 brokerage fee. On May 30, a $0.25-per-share dividend was received on the Thorlite Company stock. On June 15, 5,000 shares of the Thorlite Company stoc..

Bond investment transactions : Journalize the entries to record the following selected bond investment transactions for Olson Products: For a compound transaction, if an amount box does not require an entry, leave it blank.

Statute of frauds and refuses to sell the laptop to buyer : Seller orally agrees to sell his laptop to Buyer for $600. Buyer tenders the purchase price but Seller asserts the Statute of Frauds and refuses to sell the laptop to Buyer.

The beam fell off the truck hitting another vehicle : Henry Jacobs went to Home Lumber Center where he bought a 12 foot beam weighing 100 pounds. In the lumberyard, a store employee used a forklift to place the beam in the back of Jacobs' truck. Since the beam stuck out 4 feet, the employee flagged the ..

Price which contained sign and return form : Jack's Ice Cream orally agreed to sell ice cream to Town Field Stadium for $5000. Jack's sent Town Field an order confirmation form that stated the goods, quantity, and price which contained a "sign and return" form. Town Field did not sign and retur..

User Account

All Pages