5. On December 31, Shale Company received $4 per share cash dividend on the Stone Corporation...

Transcribed Image Text:

5. On December 31, Shale Company received $4 per share cash dividend on the Stone Corporation stock (declared December 15). Interest receivable on the Container bonds is accrued on December 31. 6. At December 31, the fair value of the shares held at the end of the year were Tee stock, $34, and Stone stock, $75. The Container Corporation bonds were quoted at 100. Required Journal Entries Financial Statement Presentation a. Provide the entries of Shale Company for each transaction 1 through 6. Note: If a journal entry isn't required on any of the dates shown, select "N/A-Debit" and "N/A-Credit" as the account names and leave the Dr. and Cr. answers blank (zero). 5. On December 31, Shale Company received $4 per share cash dividend on the Stone Corporation stock (declared December 15). Interest receivable on the Container bonds is accrued on December 31. 6. At December 31, the fair value of the shares held at the end of the year were Tee stock, $34, and Stone stock, $75. The Container Corporation bonds were quoted at 100. Required Journal Entries Financial Statement Presentation a. Provide the entries of Shale Company for each transaction 1 through 6. Note: If a journal entry isn't required on any of the dates shown, select "N/A-Debit" and "N/A-Credit" as the account names and leave the Dr. and Cr. answers blank (zero).