Entries for Stock 1 Feb. 24 Acquired 400 shares of Tett Co. stock for $139 per s
ID: 2332256 • Letter: E
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Entries for Stock 1 Feb. 24 Acquired 400 shares of Tett Co. stock for $139 per share plus a $84 brokerage commission May 16 Acquired 1,400 shares of Issacson Co. stock for $35 per share plus a $182 commission. July 14 Sold 200 shares of Tett Co. stock for $154 per share less a $100 brokerage commissiorn Aug. 12 Sold 500 shares of Issacson Co. stock for $28 per share less a $87 brokerage commission Oct. 31 Received dividends of $0.26 per share on Tett Co. stock ournalize the entries for these transactions. In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar. For a leave it blank. Feb. 24 May 16 uly 14 Au. 12 (Pr MacBook AirExplanation / Answer
Date Account Tites and Explaination Debit Credit Feb-24 Investment - Tett company [(400 shares X $139) + $84] $ 55,684 Cash $ 55,684 (Being 400 shares of Tett company acquired) May-16 Investment - Isaacson company [(1,400 shares X $35) + $182] $ 49,182 Cash $ 49,182 (Being 1,400 shares of Isaacson company acquired) Jul-14 Cash [(200 shares X $154) - $100] $ 30,700 Investment [$55,684 X (200/1,000)] $ 11,137 Gain on sale of Investment $ 19,563 (Being 200 shares of Tett company sold) Aug-12 Cash [(500 shares X $28) - $87] $ 13,913 Loss on sale of Investment $ 3,652 Investment [$49,182 X (500/1,400)] $ 17,565 (Being 500 shares of Isaacson company sold) Oct-31 Cash [(1,000 shares - 200 shares) X $0.26] $ 208 Dividend Income $ 208 (Being Dividend received from Tett company)
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