FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Equity Investments: Less than 20% ownership
On September 12, 3,800 shares of Denver Company's common stock are acquired at a price of $49 per share plus a $190 brokerage commission. On October 15, an $1.20-per-share dividend was received on the Denver Company stock. On November 10, 1,520 shares of
the Denver Company stock were sold for $42 per share less a $76 brokerage commission. At the end of the accounting period on December 31, the fair value of the remaining 2,280 shares of Denver Company's stock was $41 per share. Denver Company has 380,000
shares of common stock outstanding.
Journalize the entries for the original purchase, dividend, sale, and change in fair value under the fair value method. If an amount box does not require an entry, leave it blank.
Sep. 12
Oct. 15
Nov. 10
Dec. 31
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