on 2/1 purchase 600 share of superior common stock for 31,800 plus brokeage fee
ID: 2358684 • Letter: O
Question
on 2/1 purchase 600 share of superior common stock for 31,800 plus brokeage fee of 600/on 3/1 purchase 800 share of common stock for 20k plus broke fee of 400/on 4/1 purchase 50 -1000 share 7 percent and 4 50,00 plus brokegee fee of 1000 fee intrested payable semi annually 4/1/ and 10/1/on 7/1 recieve cash dividende of 0.60 per share on the superior common stock/on 8/1 sold 200 shares of common stock at 58 per share plus 1000 brokeage fee of 200/on 9/1 recieve 1 dollar cas divende a common stock/ on 10/1 sold the venis bond for 50k plus brokeage fee/on 12/31 the fair valve of the superior common stock was 55 dollar share the fair valve of the common stock was 24 per share/ i need to set up these trancation by setting a account title 21/ dr cr/ 3/1 dr cr/41/ dr cr/ 7/1 dr---cr /8/1 dr cr/10 dr cr/10/1 dr cr /also need to set up a stock investment.1. 2. 3./also a debit investment 1. 2. 3/ can u show me how to set it up for these transcation for my homwork assigment dumb jacExplanation / Answer
on 2/1 purchase 600 share of superior common stock for 31,800 plus brokeage fee of 600 ( Avge purch price = 32400/600 = $54) 2/1 Equity Investments (31800+600) Dr 32,400 Cash Cr 32,400 on 3/1 purchase 800 share of common stock for 20k plus broke fee of 400 ( AO avge price per shrae = 20400/800 = $25.50 ) 3/1 Equity Investments (20000+400) Dr 20400 Cash Cr 20400 on 4/1 purchase 50 -1000 share 7 percent and 4 50,00 plus brokegee fee of 1000 fee intrested payable semi annually 4/1/ and 10/1/ 4/1 Equity Investments (50000+45000+1000) Dr 96000 Cash Cr 96000 (I havent understood Your english here. Pl clarify) on 7/1 recieve cash dividende of 0.60 per share on the superior common stock/ 7/1 Cash (600*$0.60) Dr 360 DIv Rev Cr 360 on 8/1 sold 200 shares of common stock at 58 per share plus 1000 brokeage fee of 200/ 8/1 Cash (200*58 -1000) Dr 10,600 Loss on Sale of Equity Investments Dr 200 Equity Investments (200*54) Cr 10,800 on 9/1 recieve 1 dollar cas divende a common stock/ 9/1 Cash (800*$1) Dr 800 Div Rev Cr 800 on 10/1 sold the venis bond for 50k plus brokeage fee/ 10/1 Cash (50000-Brok Fee) Dr 50000 Equity Investments Cr 50000 ( I dont see any Venis Bond in the question you haveposted) on 12/31 the fair valve of the superior common stock was 55 dollar share the fair valve of the common stock was 24 per share Dec. 31 12/31 Unrealized Losses Trading Securities Dr 800 Trading Securities Market Value Adjustment Cr 800 (Adjust trading securities to market value. 400 Share of Superior*(55-54) = $400 Gain. 800 Share of common stock *(25.50-24) = 1200 Loss)
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