During 2017, Jamar Company acquired some of the 50,000 outstanding common shares of Anglis Corporation as investments

Question:

During 2017, Jamar Company acquired some of the 50,000 outstanding common shares of Anglis Corporation as investments available for sale. The accounting period for both companies ends December 31. Prepare the journal entries for each of the following transactions that occurred during 2017:

Dec. 2 Purchased 6,250 shares of Anglis common shares at $15 per share.
Dec. 15 Anglis Corporation declared and paid a cash dividend of $2 per share.
Dec. 31 Determined the current market price of Anglis's shares to be $12 per share.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... 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...

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