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The Following Transactions and Information Pertain to Langston Corporation for 20xx.Prepare

question 138

Essay

The following transactions and information pertain to Langston Corporation for 20xx.Prepare entries in journal form,without explanations,to record these transactions.
$\begin{array}{lrl}\text { May } & \text { 1. } & \begin{array}{l}\text { Purchased 1,000 shares of Granger Corporation's common stock at } \$ 180 \text { per } \\\text { share (representing } 5 \text { percent of Granger's total outstanding stock) as a } \\\text { long-term investment. }\end{array} \\\text { Sept. } & \text { 1 } & \text { Received a cash dividend of } \$ 6.00 \text { per share from Granger. } \\\text { Dec. } & 31 & \text { End of Langston's accounting year. Granger's market price per share is } \$ 168 \text {. }\end{array}$ $The following transactions and information pertain to Langston Corporation for 20xx.Prepare entries in journal form,without explanations,to record these transactions. \begin{array}{lrl} \text { May } & \text { 1. } & \begin{array}{l} \text { Purchased 1,000 shares of Granger Corporation's common stock at } \$ 180 \text { per } \\ \text { share (representing } 5 \text { percent of Granger's total outstanding stock) as a } \\ \text { long-term investment. } \end{array} \\ \text { Sept. } & \text { 1 } & \text { Received a cash dividend of } \$ 6.00 \text { per share from Granger. } \\ \text { Dec. } & 31 & \text { End of Langston's accounting year. Granger's market price per share is } \$ 168 \text {. } \end{array}$

Definitions:

Large-Scale Slavery

The widespread and institutionalized practice of owning and exploiting individuals as property, forcing them to work without pay.

Socio-Political Development

The process of change and evolution in society and politics, including improvements in political systems, social structures, and public policies.

South

A region in the United States characterized by its unique cultural, historical, and social aspects, often referring to the states that were part of the Confederacy during the Civil War.

Witchcraft Crisis

A period, particularly during the Salem witch trials in colonial Massachusetts, characterized by hysteria and the persecution of individuals accused of witchcraft.