$2023$

Feb. $25$ Purchased $196,980$ shares of Jack Inc. common shares for $$168,860($including transaction fees of $$50).$ Jack has $984,900$ common shares outstanding and has acknowledged the fact that its policies will be significantly influenced by King.

Oct. $1$ Jack declared and paid a cash dividend of $$0\mathrm{.}40$ per share.

Dec. $31$ Jack announced that profit for the year amounted to $$689,070.2024$

April $1$ Jack declared and paid a cash dividend of $$0\mathrm{.}45$ per share.

Dec. $31$ Jack announced that profit for the year amounted to $$774,660.$

$31$ King sold $79,790$ shares of Jack for $$111,340.$

Required:

Prepare general journal entries to record each transaction. $($Round per share calculations to $2$ decimal places. Round your final answers to the nearest dollar.$)$

Journal entry worksheet

$\backslash$table$[[1,2,3,4,5,6]]$

Record the purchase of investment.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$Feb $25,2023,,,]]$