Journalize the following long-term non-strategic investment transactions of Solomon Brothers Department Stores assuming the company reports changes

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Journalize the following long-term non-strategic investment transactions of Solomon Brothers Department Stores assuming the company reports changes in fair value through net income:
a. Purchased 400 shares of Royal Bank of Canada at $40 per share, with the intent of holding the shares for the indefinite future.
b. Received cash dividend of $0.50 per share on the Royal Bank of Canada investment
c. At year-end, adjusted the investment account to current fair value of $35 per share
d. Sold the shares for the market price of $30 per share?
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Financial Accounting

ISBN: 978-0134564142

6th Canadian edition

Authors: Walter Jr. Harrison, Charles T. Horngren, C. William Thomas, Greg Berberich, Catherine Seguin

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