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  3. a. on march 22, purchased 720 shares of rpi compan

a. On March 22, purchased 720 shares of RPI Company stock at $18 per share....

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Question

Accounting

a. On March 22, purchased 720 shares of RPI Company stock at $18 per share. Duke's stock investment results in it having an insignificant influence over RPI.
b. On July 1, received a $2 per share cash dividend on the RPI stock purchased in part a.
c. On October 8, sold 360 shares of RPI stock for $28 per share.
Exercise 15-8(Algo) Accounting for stock investments with insignificant influence LO P4
Prepare journal entries to record the given transactions involving the short-term stock investments of Duke Company, all of which occurred during the current year.
Journal entry worksheet
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On March 22, purchased 720 shares of RPI Company stock at $18 per share. Duke's stock investment results in it having an insignificant influence over RPI.
Note: Enter debits before credits.
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