(Learning Objective 1: Journalizing transactions for trading securities) Journalize the following trading securities investment transactions of Johnson...

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(Learning Objective 1: Journalizing transactions for trading securities) Journalize the following trading securities investment transactions of Johnson Brothers Department Stores:

a. Purchased 460 Jefferson Foods shares at €30 per share, with the intent of holding the shares for the indefi nite future.

b. Received cash dividend of €1.20 per share on the Jefferson investment.

c. At year-end, adjusted the investment account to fair market value of €39 per share.

d. Sold the Jefferson shares for the market price of €21 per share.

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Financial Accounting International Financial Reporting Standards

ISBN: 9780273777809

1st Global Edition

Authors: Walter T Harrison, Charles Horngren, Bill Thomas, Themin Suwardy

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