On November 16, Edward Jones Co paid $98,000 for trading investment in the stock of Yahoo com On December 12, Edward Jones received a $500 cash dividend from Yahoo It is now December 31, and the market value of the Yahoo stock is $91,000 For this investment, show what Edward Jones should report in ...

The journal entries for these transactions will be as follow Description Dr Cr 16Nov Investment ...

On November 16, Edward Jones Co. paid $98,000 for trading investment in the stock of Yahoo.com. On

Question:

On November 16, Edward Jones Co. paid $98,000 for trading investment in the stock of Yahoo.com. On December 12, Edward Jones received a $500 cash from Yahoo. It is now December 31, and the market value of the Yahoo stock is $91,000. For this investment, show what Edward Jones should report in its income statement and balance sheet.
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...