Entries for Investment in Stock, Receipt of Dividends, and Sale of SharesThe following equity investment transactions were completed by Romero Company during a recent year:Apr. 10.Purchased 1,700 shares of Dixon Company for a price of $45.75 per share plus a brokerage commission of $425.July 8.Received a quarterly dividend of $0.45 per share on the Dixon Company investment.Sept. 10.Sold 1,100 shares for a price of $41 per share less a brokerage commission of $240.Journalize the entries for these transactions. If required, round the final answers to the nearest dollar.For a compound transaction, if an amount box does not require an entry, leave it blank.Apr. 10 - Purchase fill in the blank 2 fill in the blank 4July 8 - Dividend fill in the blank 6 fill in the blank 8Sept. 10 - Sale fill in the blank 10fill in the blank 11 fill in the blank 13fill in the blank 14

Dividends that were declared but not yet paid are reported on the balance sheet under the heading…

Answered: The following equity investment…

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter12: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 4COP: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,...

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Entries for Investment in Stock, Receipt of Dividends, and Sale of Shares

The following equity investment transactions were completed by Romero Company during a recent year:

Apr. 10.	Purchased 1,700 shares of Dixon Company for a price of $45.75 per share plus a brokerage commission of $425.
July 8.	Received a quarterly dividend of $0.45 per share on the Dixon Company investment.
Sept. 10.	Sold 1,100 shares for a price of $41 per share less a brokerage commission of $240.

Journalize the entries for these transactions. If required, round the final answers to the nearest dollar.

For a compound transaction, if an amount box does not require an entry, leave it blank.

Apr. 10 - Purchase	fill in the blank 2
		fill in the blank 4
July 8 - Dividend	fill in the blank 6
		fill in the blank 8
Sept. 10 - Sale	fill in the blank 10	fill in the blank 11
	fill in the blank 13	fill in the blank 14

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