Question: entry from this options only with exact figures On April 1, 2024, Sunland Company purchased 35,200 common shares in Ecotown Ltd. for $13 per share.

On April 1, 2024, Sunland Company purchased 35,200 common shares in Ecotown Ltd. for $13 per share. Management has designated the investment as FVTOCI. On December 5 . Ecotown paid dividends of $0.10 per share and its shares were trading at $15 per share on December 31 . Prepare the required entries to record the purchase, dividends, and year-end adjusting journal entry (if any) for this investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit. entries.) On April 1, 2024, Sunland Company purchased 35,200 common shares in Ecotown Ltd. for $13 per share. Management has designated the investment as FVTOCI. On December 5 . Ecotown paid dividends of $0.10 per share and its shares were trading at $15 per share on December 31. Prepare the required entries to record the purchase, dividends, and year-end adjusting journal entry (if any) for this investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
