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Journalize the Entries to Record the Following Selected Equity Investment

Question 94

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Journalize the entries to record the following selected equity investment transactions completed by Perry Company during the current year. Perry accounts for this investment using the fair value method.
 February 2 Purchased for cash 900 shares of Dexter Co. stock for $54 per share plus a $450 brokerage commission. This represents a less than 10% ownership interest in the company.  April 16  Received dividends of $0.25 per share on Dexter Co. stock.  June 17 Sold 200 shares of Dexter Co. stock for $70 per share less a $500brokerage commission.  August 19 Purchased 600 shares of Dexter Co. stock for $65 per share plus a $300 brokerage commission.  November 14  Received dividends of $0.30 per share on Dexter Co. stock. \begin{array} { | l | l | } \hline\text { February 2 } & \begin{array} { l } \text {Purchased for cash } 900 \text { shares of Dexter Co. stock for } \$ 54 \text { per } \\\text {share plus a } \$ 450 \text { brokerage commission. This represents a less } \\\text {than } 10 \% \text { ownership interest in the company. }\end{array} \\\hline \text { April 16 } & \text { Received dividends of } \$ 0.25 \text { per share on Dexter Co. stock. } \\\hline \text { June 17 } & \begin{array} { l } \text {Sold } 200 \text { shares of Dexter Co. stock for } \$ 70 \text { per share less a } \$ 500 \\\text {brokerage commission. }\end{array} \\\hline \text { August 19 } & \begin{array} { l } \text {Purchased } 600 \text { shares of Dexter Co. stock for } \$ 65 \text { per share plus a } \\\$ 300 \text { brokerage commission. }\end{array} \\\hline \text { November 14 } & \text { Received dividends of } \$ 0.30 \text { per share on Dexter Co. stock. } \\\hline\end{array}

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