Sanajevah Corp. had the following transactions pertaining to its trading investments:
Jan 1 Purchased 900 Punji Inc. shares for $9,450.
Jun 1 Received cash dividends of $0.50 per share on Punji shares.
Sep 15 Sold 400 Punji shares for $4,300.
Dec 1 Received cash dividends of $0.50 per share on Punji shares.
On December 31, the shares of Punji Inc. were trading for $10 each.
Instructions
a. Journalize the transactions.
b. Indicate the income statement and/or comprehensive income effects of the transactions.

Question

Quizplus · Accepted Answer

The Answer of Sanajevah Corp. had the following transactions pertaining to its trading investments:
Jan 1 Purchased 900 Punji Inc. shares for $9,450.
Jun 1 Received cash dividends of $0.50 per share on Punji shares.
Sep 15 Sold 400 Punji shares for $4,300.
Dec 1 Received cash dividends of $0.50 per share on Punji shares.
On December 31, the shares of Punji Inc. were trading for $10 each.
Instructions
a. Journalize the transactions.
b. Indicate the income statement and/or comprehensive income effects of the transactions.