On June 10, 2007, horse brier Inc. purchased 28,000 shares Tipple bay window stock at $35.60 for a short-term investment. The brokerage deputation on the purchase was $35.
Requirements:
a. enrol the purchased of the Tipple Corporation stock.
| see to it |Account Titles and Explanations |Debits |Credits |
|June 10 | | | |
| | | | |
| | | | |
b. On August 5, Greenbrier received $9,800 in dividends on Tipple Corporation stock. Record this transaction.
|Date |Account Titles and Explanations |Debits |Credits |
|Aug.
5 | | | |
| | | | |
| | | | |
c. On declination 31, 2007, the market price of Tipple Corporation stock was $33. release any journal entries required to update the financial statements for investments attach to market.
|Date |Account Titles and Explanations |Debits |Credits |
|Dec. 31 |...If you want to set forth a full essay, order it on our website: Ordercustompaper.com
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