assignment - P ASS Homework Assignment(Chapter 15 Problem...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
PASS Homework Assignment (Chapter 15) Problem 14-4B (Entries for investments in stock) Samson Company is a wholesaler of men's hair products. The following transactions relate to certain securities acquired by Samson Company, which has a fiscal year ending on December 31: 2004 Jan. 3. Purchased 3,000 shares of the 40,000 outstanding common shares of Davidson Corporation at 67 plus commission and other costs of $468. July 2. Received the regular cash dividend of $1.30 a share on Davidson Corporation stock. Dec. 5. Received the regular cash dividend of $1.30 a share, plus an extra dividend of $0.10 a share on Davidson Corporation stock. (Assume that all intervening transactions have been recorded properly and that the number of shares of stock owned have not changed from December 31, 2004, to December 31, 2006.) 2007 Jan. 2. Purchased controlling interest in Comstock Inc. for $760,000 by purchasing 24,000 shares directly from the estate of the founder of Comstock. There are 80,000 shares of Comstock
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Ask a homework question - tutors are online