Record the following transactions of Beacon Inc. in the financial statements effects template below. Assume the transactions occur in 2018.
1) Purchased 2,800 shares of New City Corp. common stock for $40 per share. These securities are publicly traded and Beacon has no influence over New City's business decisions.
2) Received a cash dividend of $3.20 per share from New City.
3) Year-end market price of New City common stock is $30.40 per share.
4) Sold 1,200 shares for $25.60 per share, the closing price for the day.

Question

Record the following transactions of Beacon Inc. in the financial statements effects template below. Assume the transactions occur in 2018. 
1) Purchased 2,800 shares of New City Corp. common stock for $40 per share. These securities are publicly traded and Beacon has no influence over New City's business decisions.
2) Received a cash dividend of $3.20 per share from New City.
3) Year-end market price of New City common stock is $30.40 per share.
4) Sold 1,200 shares for $25.60 per share, the closing price for the day.

Quizplus · Accepted Answer

The Answer of Record the following transactions of Beacon Inc. in the financial statements effects template below. Assume the transactions occur in 2018. 
1) Purchased 2,800 shares of New City Corp. common stock for $40 per share. These securities are publicly traded and Beacon has no influence over New City's business decisions.
2) Received a cash dividend of $3.20 per share from New City.
3) Year-end market price of New City common stock is $30.40 per share.
4) Sold 1,200 shares for $25.60 per share, the closing price for the day.

Record the Following Transactions of Beacon Inc