2016
Jan. 15	Purchased 12,000 shares of Van, Inc.s common stock at $11 per share plus a brokerage commission of $900. These shares represent a 30 percent ownership of Vans common stock.
Dec. 31	Received a cash dividend of $3.25 per share of common stock from Van.
Dec. 31	Made the adjusting entry to reflect income from the Van stock investment. Vans 2016 net income is $86,000.
2017
Jan. 20	Sold all 12,000 shares of the Van common stock for $126,500.

Record the transactions and adjustment of the Dunn Company using journal entries.

General Journal
Date	Description	Debit	Credit
1/15/2016	AnswerCashGain on sale of investmentsIncome from stock investmentsLoss on sale of investmentsStock investment-influential (Van	Answer	Answer
	AnswerCashGain on sale of investmentsIncome from stock investmentsLoss on sale of investmentsStock investment-influential (Van	Answer	Answer
	To record purchase of equity securities.
12/31/2016	AnswerCashGain on sale of investmentsIncome from stock investmentsLoss on sale of investmentsStock investment-influential (Van	Answer	Answer
	AnswerCashGain on sale of investmentsIncome from stock investmentsLoss on sale of investmentsStock investment-influential (Van	Answer	Answer
	To record receipt of dividend.
12/31/2016	AnswerCashGain on sale of investmentsIncome from stock investmentsLoss on sale of investmentsStock investment-influential (Van	Answer	Answer
	AnswerCashGain on sale of investmentsIncome from stock investmentsLoss on sale of investmentsStock investment-influential (Van	Answer	Answer
	To record portion of Van's net income.
1/20/2017	AnswerCashGain on sale of investmentsIncome from stock investmentsLoss on sale of investmentsStock investment-influential (Van	Answer	Answer
	AnswerCashGain on sale of investmentsIncome from stock investmentsLoss on sale of investmentsStock investment-influential (Van	Answer	Answer
	Stock investment-influential (Van)	Answer	Answer
	To record sale of equity securities.