The Following Transactions and Information Pertain to Yates Corporation for 2009

question 108

Essay

The following transactions and information pertain to Yates Corporation for 2009 and 2010.
2009
May 1 Purchased 3,000 shares of Templin Corporation common stock at $\$ 32$ per share representing 2 percent of Templin's total outstanding stock) as a long-term investment.

Sept. 1 Received a cash dividend from Templin equal to $\$ 1.40$ per share.
Dec. 31 Market value of Templin stock at year end was $\$ 24$ per share.

2010
Sept. 1 Received a cash dividend from Templin equal to $\$ 1.40$ per share.
Nov. 1 Sold 300 shares of Templin at $\$ 26$ per share.
Dec. 31 Market value of Templin stock at year end was $\$ 22$ per share.
Prepare entries in journal form,without explanations,to record the above.Yates's accounting year ends December 31.

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Definitions:

Socially Inappropriate

Socially Inappropriate behavior refers to actions or remarks that are considered unacceptable or offensive by societal norms and expectations.

Groupthink

The mode of thinking that occurs when the desire for harmony in a decision-making group overrides a realistic appraisal of alternatives.

Mood Contagion

The phenomenon where an individual's emotions or affective states can induce similar emotions in others around them.

Social Norms

Unwritten rules that are accepted and followed by members of a society or social group, guiding behaviors and establishing expectations.