Business, 09.04.2020 03:52 brendaesme

On January 23, 15,000 shares of Tolle Company are acquired at a price of $25 per share plus a $145 brokerage commission. On April 12, a $0.50-per-share dividend was received on the Tolle Company stock. On June 10, 5,700 shares of the Tolle Company stock were sold for $31 per share less a $120 brokerage commission.

Prepare the journal entries for the original purchase, the dividend, and the sale under the cost method.

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Answer from: tshaw04614

Dr Investment in shares $375,125

Cr Cash $375,125

Dr cash $7,500

Cr Investment income $7,500

Dr Cash $176,580

Cr investment in shares $142,547.50

Cr gain on investment $ 34,032.50

Explanation:

On the date of purchase the total cash paid is computed thus:

(15,000*$25)+$125=$375,125 which is debited investment account and credited to cash.

The dividends received =15,000*$0.50=$7,500 which debited to cash and credit to investment income.

Sale of 5700 brings in cash $ 176,580.00 ($31*5700)-$120 which is debited to cash and whose cost of $ 142,547.50 (5700*15000*$375,125) would be credited to investment account while the difference of $ 34,032.50

($176580-$142,547.50) is credited to gain on investment.

Answer from: alexandrecarmene

Jan 23

Dr Investment company T $375,145

Cr Cash $375,145

April 12

Dr Cash $7,500

Cr Dividend Revenue $7,5000

June 10

Dr Cash $176,580

Cr investment in shares $142,547.50

Cr gain on investment $34,032.50

Explanation:

Jan 23

Dr Investment company T $375,145

(15,000 shares ×$25)+$145

Cr Cash $375,145

April 12

Dr Cash $7,500

Cr Dividend Revenue $7,5000

($15,000× $0.50-per-share dividend)

June 10

Dr Cash $176,580

($5,700×$31) -$120

Cr investment in shares $142,547.50

Cr gain on investment $34,032.50

Answer from: Quest

A- the queen isn’t specified which one so its to capitalized same with nuclear reactors and atomic power plant (aka they aren’t proper nouns)

Answer from: Quest

the correct answer would be b, when, queen, calder hall and london.

explanation:

we always capitalize words when a paragraph or sentence is starting, when an important name is used, when a place is being written, or simply when a noun is used, etc. so in this sentence, sentence is starting from 'when', so it will be written in capital letters. secondly, queen is considered to be an important person, so it will also be written in capital letter. next, the name of the town is mentioned, i-e calder hall, which will also be written in capital letters. in the last, city name is being used, 'london', which will also be written in capital letters. so option b is the most appropriate one.

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