During 2011, Yale Company acquired some of the 50,000 outstanding shares of the common stock , par

Question:

During 2011, Yale Company acquired some of the 50,000 outstanding shares of the , par $12, of Carol 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 2011:
Dec. 2 Purchased 6,250 shares of Carol at $26 per share.
Dec. 15 Carol declared and paid a cash of $3 per share.
Dec. 31 Determined the current market price of Carol stock to be $22 per share.

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