$(9$hw$)$

Exercise C$-14($Static$)$ Accounting for equity method investments LO P$5$

Lhsed below are a few events and transactions of Kodax Company.

Near $4$ comon stock outstanding, and its activities wilt be significant ly Latluenced by Kodax.

September $1$ Grecce declared and paid a cash dividend of $$1\mathrm{.}50$ per share.

Decosber $31$ Grecce announced that net incone for the year is $1456,904.$

Year $2$

June $1$ Crecce oeclared and paid a caih divisund of $$2\mathrm{.}16$ per share.

Deceaber $31$ Grecce announcet that net incone for the year is $$762,754.$

Decenber $31$ Kodax sold $3,6$ th shares of Grecce for $171,06$ cash $.$

Prepare journal entries to recond the above tramsactions and eveats of Kodax Company.

Note: Do not round imtermediate calculations and round your final answers to the nearest dollar amount.

Journal entry worksheet

$$

$1$

$2$

$3$

$4$

$5$

$6$

Purchaved $30,000$ shares of Grecce Company common stock for $1411,000$

cash. Grecce has $90,000$ shares of common stock outstanding, and its activities will be significuntly influticed by Kodax.

Wole: Inter debiks before credits.

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