The beginning balance sheet of Dealmaker Securities Limited included the following: Long-Term Investments in Affiliates (equity-method investments)

Question:

The beginning of Dealmaker Securities Limited included the following:
Long-Term Investments in Affiliates (equity-method investments) ............... $409,000
Dealmaker completed the following investment transactions during the year:
Feb. 16 Purchased 10,000 shares of BCM Software common shares as a long-term non-strategic investment, paying $9.25 per share
May 14 Received cash of $0.82 per share on the BCM investment
Oct. 15 Received cash of $29,000 from an affiliated company
Dec. 31 Received annual reports from affiliated companies. Their total net income for the year was $620,000. Of this amount, Dealmaker's proportion is 25%.
The fair values of Dealmaker's investments are BCM, $89,000, and affiliated companies, $947,000. The company reports changes in fair value through other comprehensive income.
Requirements
1. Record the transactions in the journal of Dealmaker Securities.
2. Post entries to the Long-Term Investments in Affiliates T-account, and determine its balance at December 31.
3. Show how to report Long-Term Non-strategic Investments and Long-Term Investments in Affiliates on Dealmaker's at December 31.
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