On October 18, 2017, Daley Inc. purchased 100 shares of Orthon at $32 per share. The shares
Question:
On October 18, 2017, Daley Inc. purchased 100 shares of Orthon at $32 per share. The shares were held throughout the remainder of 2017 and 2018, and by December 31, 2017 and 2018, the per-share market price had risen to $40 and $50, respectively.
REQUIRED:
a. Provide the journal entries recorded at October 18, 2017; December 31, 2017; and December 31, 2018.
b. Compute the 2017 and 2018 net income effects.
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a 101817 ShortTerm Equity Investments A 3200 Cash A 3200 3200 32share x 100 shares 123117 Sh...View the full answer
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