Bob Company invests 300 shares by paying $23,400 for ABC Ltd.s common shares on January 1 st
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Question:
Bob Company invests 300 shares by paying $23,400 for ABC Ltd.’s common shares on January 1st, 2017. The management told you that the company has no specific plan or urgent need to sell the shares. ABC pays dividend of $3.25 per share at year-end December 31, 2017. However, ABC Ltd.’s share price is $74.50 at year-end.
Requirements
Prepare all necessary journal entries for Bob Company for 2017
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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