investment journal entries
anyone know how to do these: never seen these ever... hoping to use answers as a foundation.
1. Purchased 40,000 shares of Retriever Company. The company purchased the
shares for $600,000. Retriever Company has 100,000 shares issued and
outstanding.
2. The company purchased five year 5% bonds from Jack Russell Corporation
with a face value of $100,000, with a 8% yield. The bonds were designated as
held-to-maturity investments. The bond pays interest semi-annually on
November 1st and May 1st.
3. The company purchased 1,200 shares of Husky Inc. at a cost of $6.50
per share. $150 commission was paid. These shares were designated
available-for-sale securities.
4. The company sold 2,500 shares of Chow Chow Inc. for $11.00 per share. This
transaction had brokerage fees of $550.
5. The company purchased 600 common shares of Labrador Inc. for $12 per
share plus brokerage fees of $150. These shares are expected to be sold
within the next operating cycle.
6. Received interest on bonds.
7. Sold 1,500 shares of Boxer Inc. for $21.00 per share.
8. The company paid $600 in broker fees for the sale of shares made on Jan 5.
9. Received a dividend of $0.25 per share on Poodle Inc. shares.
10. Received a dividend of $0.30 per share on Retriever Company shares.