Prior to 2021, Cottrell has invested in the following companie has invested in the following companies by
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- Prior to 2021, Cottrell has invested in the following companie has invested in the following companies by purchasing small amounts of their common stock. Cottrell did not purchase any additional stock in 2021. The company has no intentions to sell this stock in 2022. Make any entries needed for these investments in 2021.
Company | # Shares owned | % of total shares owned* | Cost per share when purchased | Current per share market price | Dividends received in 2021 per share | Company’s Net Income for 2021 |
Metcalf Industries | 100 | 5% | $20 | $29 | $2.00 | $1,500,000 |
RFJ Corporation | 120 | 8% | $15 | $12 | $0.75 | $620,000 |
Telstar Communications | 230 | Less than 1% | $60 | $48 | None | $27,000,000 |
Pro tech Company | 300 | 12% | $98 | $160 | None | $5,890,000 |
* This is the % of the total stock issued by the investee company that is owned by Cottrell
| Account Title | Debit | Credit | |
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