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On March 1, 2020, Shortsleeve Corp. invests $23,059 in the stock of Weiner, Inc.
Weiner, Inc. pays Shortsleeve Corp. a dividend on August 1, 2020 for $10,000.
Shortsleeve Corp. sells Weiner, Inc. stock on August 31, 2020, for $23,809. The Investment is categorized as a trading investment.
Date Description Debit Credit March 1 March 1 August 1 August 1 August 31 August 31 August 31 Date Description Debit Credit March 1 Short-Term Investments-Trading 23,059 March 1 Cash 23,059 August 1 Cash 10,000 August 1 Dividend Revenue 10,000 August 31 Cash 23,809 August 31 Short-Term Investments-Trading 23,059 August 31 Gain on Disposal 750