Jenner Company had the following transactions pertaining to its short-term stock investments.
Jan. 1 Purchased 600 shares of Pork Company stock for $8420.
June 1 Received cash dividends of $0.60 per share on the Pork Company stock.
Sept. 15 Sold 300 shares of the Pork Company stock for $3400 Cash.
Instructions
Journalize the transactions.

Question

Skylar Cross · Accepted Answer

Final Answer :   Jan. 1 Stock Investments. 8 , 420  Cash 8 , 420  June 1 Cash  ( 600 × $ 0.60 )   360  Dividend Revenue  360  Sept. 15 Cash  3 , 400  Loss on Sale of Stock Investments Stock  810  Investments  [ 300 × ( $ 8 , 420 ÷ 600 ) ] 4 , 210 \begin{array}{llr}  	ext {  Jan. 1\quad Stock Investments.}  & 8,420\\quad\quad\quad\quad 	ext {  Cash}  & & 8,420\\ 	ext { June 1\quad Cash   (600 	imes \$ 0.60)   }  & 360\ \quad\quad\quad\quad	ext {  Dividend Revenue }  & & 360\\ 	ext { Sept. 15\quad Cash }  & 3,400\\quad\quad\quad\quad\quad 	ext { Loss on Sale of Stock Investments Stock }  & 810\\quad\quad\quad\quad\quad	ext {   Investments   [300 	imes(\$ 8,420 \div 600)]  }  & & 4,210\\end{array}  Jan. 1 Stock Investments.  Cash  June 1 Cash  ( 600 × $0.60 )    Dividend Revenue   Sept. 15 Cash   Loss on Sale of Stock Investments Stock   Investments  [ 300 × ( $8 , 420 ÷ 600 )] ​ 8 , 420 360 3 , 400 810 ​ 8 , 420 360 4 , 210 ​

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