Question: Hello! Can you please help me to understand the question in the attached document (22)? I am struggling with it and am completely desperate :(
Hello! Can you please help me to understand the question in the attached document (22)? I am struggling with it and am completely desperate :( I have also attached the blank entry for reference. Thank you so much in advance for your assistance - I can't tell you how much I appreciate it!


Question 22 (4 points) On January 1, 2019, Post Company purchased 40,000 shares of the stock of Malone Co, and did obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $300,000, and represents a 35% ownership stake. Malone made $100,000 of net income in 2019, and paid dividends of $30,000. The price of Malone's stock increased from $7.50 per share at the beginning of the year, to $10 per share at the end of the year. Requirements: a. Prepare the January 1 and December 31 general journal entries for Post Company. b. How much should the Post Company report on the balance sheet for the investment in Malone at the end of 2019? Question 22: 4 points a. General Journal Entries Date Account Debit Credit b. Stock Investments Accounts Balance 12/31/19
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