Question

Green Back Investments completed the following transactions during 2016:
Jan. 14 Purchased 1,200 shares of Sysky stock, paying $46 per share. The investment represents 25% ownership in Sysky's voting stock. Green Back intends to hold the investment for the indefinite future.
Aug. 22 Received a cash dividend of $0.34 per share on the 5ysky stock.
Dec. 31 Sysky's current market value is $44 per share.
31 Sysky reported net income of $330,000 for the year ended 2016.
Requirements
1. Journalize Green Back’s transactions. Explanations are not required.
2. Classify and prepare partial financial statements for Green Back’s 25% Sysky investment for the year ended December 31, 2016.


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  • CreatedJune 15, 2015
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