The following equity investment transactions were completed


The following equity investment transactions were completed by Chung Company in 2016:

Mar. 4  Purchased 5,000 shares of Jas Company for a price of $49 per share plus a brokerage commission of $90.

May 12  Received a quarterly dividend of $1.00 per share on the Jas Company investment.

June 17  Sold 1,100 shares for a price of $44 per share less a brokerage commission of $70.

Journalize the entries for these transactions. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar.

Request for Solution File

Ask an Expert for Answer!!
Financial Accounting: The following equity investment transactions were completed
Reference No:- TGS01662822

Expected delivery within 24 Hours