M Question 2 - Module 8: Assign X Course Hero X + C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddlewar... Update : Module 8: Assignment i Saved Help Save & Exit Submit 2 Johnson Inc.'s non-strategic investment portfolio at December 31, 2022, consisted of the following: Debt and Equity Investments* Cost Fair Value 10,200 Xavier Corp. common shares $166 , 770 $147, 900 1, 350 Young Inc. common shares 70, 200 66, 960 122, 000 zed Corp. common shares 40 , 600 36 , 2 *The fair value adjustments were recorded on December 31, 2022. Johnson had no other debt and equity investments at December 31, 2022, other than those shown above. During 2023, Johnson engaged in the following transactions: 2023 Jan. 17 Sold 850 common shares of Young Inc. for $40, 800. Johnson Inc. planned to hold these shares for less than one year . Mar. 3 Purchased 5,200 common shares of Allen Corp. for $312, 000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $2.70 per share. Aug. 14 Sold the remaining Young Inc. shares at $31.70. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 10, 200 common shares at a total of $90, 780. Johnson Inc. will sell these shares in six to nine months. Dec. 30 Sold 10,200 shares of Xavier Corporation for $163, 200. Dec. 31 Allen Corp. announced a net profit of $281, 000 for the year. Required: Journalize the above transactions. View transaction list Journal entry worksheet 2 3 4 5 6 7 Record the sale of equity investment. Mc Graw HillM Question 2 - Module 8: Assign X Course Hero X + C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddlewar... Update : Module 8: Assignment i Saved Help Save & Exit Submit 2 Johnson Inc.'s non-strategic investment portfolio at December 31, 2022, consisted of the following: Debt and Equity Investments* Cost Fair Value 10,200 Xavier Corp. common shares $166 , 770 $147, 900 1, 350 Young Inc. common shares 70, 200 66, 960 122, 000 zed Corp. common shares 40 , 600 36 , 2 *The fair value adjustments were recorded on December 31, 2022. Johnson had no other debt and equity investments at December 31, 2022, other than those shown above. During 2023, Johnson engaged in the following transactions: 2023 Jan. 17 Sold 850 common shares of Young Inc. for $40, 800. Johnson Inc. planned to hold these shares for less than one year . Mar. 3 Purchased 5,200 common shares of Allen Corp. for $312, 000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $2.70 per share. Aug. 14 Sold the remaining Young Inc. shares at $31.70. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 10, 200 common shares at a total of $90, 780. Johnson Inc. will sell these shares in six to nine months. Dec. 30 Sold 10,200 shares of Xavier Corporation for $163, 200. Dec. 31 Allen Corp. announced a net profit of $281,000 for the year. Required: Journalize the above transactions. View transaction list Journal entry worksheet HillM Question 2 - Module 8: Assign X Course Hero X + C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddlewar... Update : Module 8: Assignment i Saved Help Save & Exit Submit 2 Johnson Inc.'s non-strategic investment portfolio at December 31, 2022, consisted of the following: Debt and Equity Investments* Cost Fair Value 10,200 Xavier Corp. common shares $166 , 770 $147, 900 1, 350 Young Inc. common shares 70, 200 66, 960 122, 000 zed Corp. common shares 40 , 600 36 , 2 *The fair value adjustments were recorded on December 31, 2022. Johnson had no other debt and equity investments at December 31, 2022, other than those shown above. During 2023, Johnson engaged in the following transactions: 2023 Jan. 17 Sold 850 common shares of Young Inc. for $40, 800. Johnson Inc. planned to hold these shares for less than one year . Mar. 3 Purchased 5,200 common shares of Allen Corp. for $312, 000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $2.70 per share. Aug. 14 Sold the remaining Young Inc. shares at $31.70. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 10, 200 common shares at a total of $90, 780. Johnson Inc. will sell these shares in six to nine months. Dec. 30 Sold 10,200 shares of Xavier Corporation for $163, 200. Dec. 31 Allen Corp. announced a net profit of $281,000 for the year. Required: Journalize the above transactions. View transaction list Journal entry worksheet HillM Question 2 - Module 8: Assign X Course Hero X + C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddlewar... Update : Module 8: Assignment i Saved Help Save & Exit Submit 2 Johnson Inc.'s non-strategic investment portfolio at December 31, 2022, consisted of the following: Debt and Equity Investments* Cost Fair Value 10,200 Xavier Corp. common shares $166 , 770 $147, 900 1, 350 Young Inc. common shares 70, 200 66, 960 122, 000 zed Corp. common shares 40 , 600 36 , 2 *The fair value adjustments were recorded on December 31, 2022. Johnson had no other debt and equity investments at December 31, 2022, other than those shown above. During 2023, Johnson engaged in the following transactions: 2023 Jan. 17 Sold 850 common shares of Young Inc. for $40, 800. Johnson Inc. planned to hold these shares for less than one year . Mar. 3 Purchased 5,200 common shares of Allen Corp. for $312, 000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $2.70 per share. Aug. 14 Sold the remaining Young Inc. shares at $31.70. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 10, 200 common shares at a total of $90, 780. Johnson Inc. will sell these shares in six to nine months. Dec. 30 Sold 10,200 shares of Xavier Corporation for $163, 200. Dec. 31 Allen Corp. announced a net profit of $281,000 for the year. Required: Journalize the above transactions. View transaction list Journal entry worksheet HillM Question 2 - Module 8: Assign X Course Hero X + C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddlewar... Update : Module 8: Assignment i Saved Help Save & Exit Submit 2 Johnson Inc.'s non-strategic investment portfolio at December 31, 2022, consisted of the following: Debt and Equity Investments* Cost Fair Value 10,200 Xavier Corp. common shares $166 , 770 $147, 900 1, 350 Young Inc. common shares 70, 200 66, 960 122, 000 zed Corp. common shares 40 , 600 36 , 2 *The fair value adjustments were recorded on December 31, 2022. Johnson had no other debt and equity investments at December 31, 2022, other than those shown above. During 2023, Johnson engaged in the following transactions: 2023 Jan. 17 Sold 850 common shares of Young Inc. for $40, 800. Johnson Inc. planned to hold these shares for less than one year . Mar. 3 Purchased 5,200 common shares of Allen Corp. for $312, 000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $2.70 per share. Aug. 14 Sold the remaining Young Inc. shares at $31.70. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 10, 200 common shares at a total of $90, 780. Johnson Inc. will sell these shares in six to nine months. Dec. 30 Sold 10,200 shares of Xavier Corporation for $163, 200. Dec. 31 Allen Corp. announced a net profit of $281,000 for the year. Required: Journalize the above transactions. View transaction list Journal entry worksheet HillM Question 2 - Module 8: Assign X Course Hero X + C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddlewar... Update : Module 8: Assignment i Saved Help Save & Exit Submit 2 Johnson Inc.'s non-strategic investment portfolio at December 31, 2022, consisted of the following: Debt and Equity Investments* Cost Fair Value 10,200 Xavier Corp. common shares $166 , 770 $147, 900 1, 350 Young Inc. common shares 70, 200 66, 960 122, 000 zed Corp. common shares 40 , 600 36 , 2 *The fair value adjustments were recorded on December 31, 2022. Johnson had no other debt and equity investments at December 31, 2022, other than those shown above. During 2023, Johnson engaged in the following transactions: 2023 Jan. 17 Sold 850 common shares of Young Inc. for $40, 800. Johnson Inc. planned to hold these shares for less than one year . Mar. 3 Purchased 5,200 common shares of Allen Corp. for $312, 000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $2.70 per share. Aug. 14 Sold the remaining Young Inc. shares at $31.70. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 10, 200 common shares at a total of $90, 780. Johnson Inc. will sell these shares in six to nine months. Dec. 30 Sold 10,200 shares of Xavier Corporation for $163, 200. Dec. 31 Allen Corp. announced a net profit of $281, 000 for the year. Required: Journalize the above transactions. View transaction list Journal entry worksheet HillM Question 2 - Module 8: Assign X Course Hero X + C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddlewar... Update : Module 8: Assignment i Saved Help Save & Exit Submit 2 Johnson Inc.'s non-strategic investment portfolio at December 31, 2022, consisted of the following: Debt and Equity Investments* Cost Fair Value 10,200 Xavier Corp. common shares $166 , 770 $147, 900 1, 350 Young Inc. common shares 70, 200 66, 960 122, 000 zed Corp. common shares 40 , 600 36 , 2 *The fair value adjustments were recorded on December 31, 2022. Johnson had no other debt and equity investments at December 31, 2022, other than those shown above. During 2023, Johnson engaged in the following transactions: 2023 Jan. 17 Sold 850 common shares of Young Inc. for $40, 800. Johnson Inc. planned to hold these shares for less than one year . Mar. 3 Purchased 5,200 common shares of Allen Corp. for $312, 000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $2.70 per share. Aug. 14 Sold the remaining Young Inc. shares at $31.70. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 10, 200 common shares at a total of $90, 780. Johnson Inc. will sell these shares in six to nine months. Dec. 30 Sold 10,200 shares of Xavier Corporation for $163, 200. Dec. 31 Allen Corp. announced a net profit of $281,000 for the year. Required: Journalize the above transactions. View transaction list Journal entry worksheet Hill