Stock Investment Transactions
On September 12, 2,000 shares of Aspen Company are acquired at a price of $50 per share plus a $200 brokerage fee. On October 15, a $0.50-per-share dividend was received on the Aspen Company stock. On November 10, 1,200 shares of the Aspen Company stock were sold for $42 per share less a $150 brokerage fee.
In your computations, round per share amounts to two 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.
Sep. 12 - Purchase
Oct. 15 - Dividend
Nov. 10 - Sale