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On April 25, Mineral Corporation acquired 50,000 shares of the 550,000 outstanding common stock of...

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Accounting

On April 25, Mineral Corporation acquired 50,000 shares of the 550,000 outstanding common stock of Pluto Co. at $35 plus commission charges of $500. On June 10, a cash dividend of $1.75 per share was received. 
On October 10, 8,000 shares were sold at $43 less commission charges of $500. 
At the end of the accounting period on December 31, the fair value of the remaining 42,000 shares of Mineral Company’s stock was $42.00 per share. 

Journalize the entries for 
(a) the purchase of stock,
(b) the receipt of dividends, 
(c) the sale of 8,000 shares, and 
(d) the change in fair value.


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