Open Question: Accounting-help journalize this? 10 pts!?

7 September 2010, 10:49 pm

On February 1, Neil Company purchased 500 shares (2% ownership) of Young Company common stock for $30 per share plus brokerage fees of $400. On March 20, Neil Company sold 100 shares of Young stock for $2,900, less a $50 brokerage fee. Neil received a dividend of $1.00 per share on April 25. On June 15, Neil sold 200 shares of Young stock for $7,400, less a $90 brokerage fee. On July 28, Neil received a dividend of $1.25 per share. Instructions Prepare the journal entries to record the transactions described above. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.) DateAccount/DescriptionDebitCredit Feb. 1 Mar. 20 Apr. 25 June 15 July 28... Read More »

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