Question: Hello, I would need help with my current assignement please. P16-1A Oliver Corp. owns numerous investments in the shares of other companies. Assume 1 2

Hello, I would need help with my current assignement please.

Hello, I would need help with my currentHello, I would need help with my current
P16-1A Oliver Corp. owns numerous investments in the shares of other companies. Assume 1 2 3 Oliver Corp. completed the following investment transactions: Journalizing transactions 2020 under the fair value and Jan. 1 Purchased 12,000 common shares (total issued and outstanding equity methods common shares, 50,000) of Canadian Parts Corp. at a cost of $950,000. Dec. 31 Loss, $2,000 Brokerage commissions on the purchase were $20,000. Jan. 2 Purchased an additional 2,000 Canadian Parts Corp. common shares at a cost of $162,000. Brokerage commissions on the purchase were $1,500. Sep. 15 Received semi-annual cash dividend of $3.20 per share on the Canadian Parts Corp. investment. Oct. 12 Purchased 1,000 Sharma Ltd. common shares as a short-term investment, paying $33.00 per share plus brokerage commission of $1,000. Dec. 14 Received semi-annual cash dividend of $1.50 per share on the Sharma Ltd. investment. 31 Received annual report from Canadian Parts Corp. Net income for the year was $800,000. Of this amount, Oliver Corp.'s proportion is 28 percent. The current market value for 1,000 Sharma Ltd. shares is $31,000. 2021 Feb. 6 Sold 2,000 Canadian Parts Corp. shares for cash of $168,500, less brokerage commissions of $1,550.Required Record the transactions in the general journal of Oliver Corp.; the com- pany's year-end is December 31

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