Purchased 4000 shares of proxperity common stock for 15 per, Ask an Expert

Accounting

Prepare the general journal entries for the following transactions of Sentient Inc.

a. Purchased 4,000 shares of Proxperity common stock for $15 per share. These securities are publicly traded and Sentient classifies them as trading securities.
b. Received a cash dividend of $0.50 per share from Proxperity
c. Year-end market price of Proxperity common stock is $12 per share.
d. Sold 1,000 shares for $10 per share, the closing price for the day.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M990741

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