On January 6, Year 1, Bulldog Co. purchased 29% of the outstanding stock of Gator Co. for $179,000. Gator Co. paid total dividends of $19,700 to all shareholders on June 30. Gator Co. had a net loss of $35,800 Year 1. a.  Journalize Bulldog's purchase of the stock, receipt of the dividends, and the adjusting entry for the equity loss in Gator Co. stock. Jan. 6 - Purchase   fill in the blank f12e39ffe00ff83_2         fill in the blank f12e39ffe00ff83_4 June 30 - Dividend   fill in the blank f12e39ffe00ff83_6         fill in the blank f12e39ffe00ff83_8 Dec. 31 - Equity Loss   fill in the blank f12e39ffe00ff83_10         fill in the blank f12e39ffe00ff83_12 b.  Compute the balance of Investment in Gator Co. Stock on December 31, Year 1. $fill in the blank ead8c9031057025_1 c.  How does valuing an investment under the equity method differ from valuing an investment at fair value? Under the   method, the investor will record their proportionate share of the net increase (or decrease) of the book value of the investee resulting from earnings and dividend distributions. The   method uses market price information to value the investment in the investee.

Prepare journal entries to record the following transactions involving the short-term stock investments of Duke Co., all of which occurred during the current year. a. On March 22, purchased 1,000 shares of RPI Company stock at $10 per share. Duke’s stock investment results in it having an insignificant influence over RPI. b. On July 1, received a $1 per share cash dividend on the RPI stock purchased in part a. c. On October 8, sold 50 shares of RPI stock for $15 per share.

On November 1 of Year 1, Drucker Co. acquired the following investments in equity securities measured at FV-NI. Kelly Corporation 400 shares of common stock (no-par) at $60 per share Keefe Corporation 240 shares preferred stock ($10 par) at $20 per share On December 31, the company's year-end, the quoted market prices were as follows: Kelly Corporation common stock, $52, and Keefe Corporation preferred stock, $24. Following are the data for the following year (Year 2). Mar. 02: Dividends per share, declared and paid: Kelly Corp., $1, and Keefe Corp., $0.50. Oct. 01: Sold 80 shares of Keefe Corporation preferred stock at $25 per share. Dec. 31: Fair values: Kelly common, $46 per share, Keefe preferred, $26 per share. Year 1 Year 2 d. Prepare the entries required in Year 2 to record dividend revenue, the sale of stock, and the fair value adjustment. Assume that the Fair Value Adjustment account needs to be adjusted for the investment portfolio on December 31, Year 2. Date Mar. 2, Year 2…

On February 14, Marine Company reacquired 7,500 shares of its common stock at $30 per share. On March 15, Marine sold 4,500 of the reacquired shares at $34 per share. On June 2, Marine sold the remaining shares at $28 per share. Required: Journalize the transactions of Februaryl4, March 5, and June 2.