On April 25, Donnoly Company buys 4,200 shares of Carpenter common stock for $92,500, plus brokerage fees of $2,000. On October 31, Donnoly sells 600 shares of Corpenter stock for $15,500, less brokerage fees of $500. Prepare journal entries for the purchase and sale of the Carpenter common stock.

Question

Quizplus · Accepted Answer

The Answer of On April 25, Donnoly Company buys 4,200 shares of Carpenter common stock for $92,500, plus brokerage fees of $2,000. On October 31, Donnoly sells 600 shares of Corpenter stock for $15,500, less brokerage fees of $500. Prepare journal entries for the purchase and sale of the Carpenter common stock.

On April 25, Donnoly Company Buys 4,200 Shares of Carpenter