Question

During 2014, James Company acquired some of the 50,000 outstanding shares of the common stock, par $12, of Andrew Corporation as available-for-sale investments. The accounting period for both companies ends December 31. Give the journal entries for each of the following transactions that occurred during 2014:
Dec. 2 Purchased 6,250 shares of Andrew common stock at $15 per share.
Dec. 15 Andrew Corporation declared and paid a cash dividend of $2 per share.
Dec. 31 Determined the current market price of Andrew stock to be $12 per share.



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  • CreatedJuly 01, 2014
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