Stein Company had the following transactions pertaining to its short-term stock investments.
Jan. 1 Purchased 600 shares of Pine Company stock for $7,000 cash plus brokerage fees of $350.
June 1 Received cash dividends of $0.60 per share on the Pine Company stock.
Sept. 15 Sold 300 shares of the Pine Company stock for $3,600 less brokerage fees of $200.
Instructions
Journalize the transactions.

Question

Quizplus · Accepted Answer

The Answer of Stein Company had the following transactions pertaining to its short-term stock investments.
Jan. 1 Purchased 600 shares of Pine Company stock for $7,000 cash plus brokerage fees of $350.
June 1 Received cash dividends of $0.60 per share on the Pine Company stock.
Sept. 15 Sold 300 shares of the Pine Company stock for $3,600 less brokerage fees of $200.
Instructions
Journalize the transactions.

Stein Company Had the Following Transactions Pertaining to Its Short-Term