all parts please t ear a Fixed asset i mpairme- × \\ - on1x V?. Cengage learning
ID: 2593905 • Letter: A
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all parts please
t ear a Fixed asset i mpairme- × - on1x V?. Cengage learning gagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator-assignment-take;&inprogress-false; Print Item Show Me How eBook xercises Stock Investment Transactions -per- 2, 3,500 shares of Aspen Company are acquired at a price of $34.00 per share plus a $175 brokerage commission, On October 15, a so.80 On September 1 share dividend was received on the Aspen Company st $70 brokerage commission. ock. On November 10, 1,400.00 shares of the Aspen Company stock were sold for $28 per share less a blank. When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it Prepare the journal entries for the original purchase, the dividend, and the sale under the cost method. Sept. 12 Ot. 15 Nov. 10 Check My Work 2 more Check ldy Work uses remaining Previous NextExplanation / Answer
Date Particulars Debit Credit Sep-12 Investment in Aspen Shares A/c Dr 119175 119000 To Cash A/c 119175 ( Being Purchase of Aspen Share @ 34 per Share ) Oct-15 Cash A/c Dr $2,800 To Investment in Aspen Shares A/c $2,800 ( Being dividend received has been credited to the Invetsment ) Nov-10 Cash A/c Dr $39,130 Loss on Sale sof Shares A/c Dr $7,420 To Investment in Aspen Shares A/c $46,550 (Being Sale of 1400 shares ) Amount Shares Per Value Share Note Shares Purchased $119,175 3500 $34.05 Less Dividend Received ($2,800) $116,375 3500 $33.25 Book Value of the 1400 Shares $46,550.00 Dec-31 Trading Investments A/c Dr $500.00 To Gain on the Trading Investments $500.00 Being recogniiton of the increase in the value of the Invetsments Dec-31 Investments- Available-for-sale A/c Dr $7,010.00 To Gain on available-for-sale securities $7,010.00 Being recogniiton of the Gain on available-for-sale securities
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