ACCT 222-homework-chapter 16-Feb 20, 2018 [Compatibility Mode Q Search in Document Home Insort Dosign Layout Reforoncos Mailings Roviow Viow AaBbCeDdE ABbCDdAaBbCcD No Spacinyg Paste Heading 1 Hesding 2 Title Subbitle Subtle Emp... Emphasis Styles Frederick Company 2017 Jan. 2 Purchased 30,000 shares of O'Neal Company $3 par value common stock for $205,000 plus a broker's fee of $3,580. O'Neal has 90,000 common shares outstanding and it policies will be significantly influenced by Frederick Company Sept 1. O'Neal declared and paid a cash dividend of $3.20 per share. Dec. 31 O'Neal announced that net income for the year is $650,900 2018 June 1 O'Neal declared and paid a cash dividend of $3.53 per share. Dec. 31 O'Neal announced that net income for the year is $689,750 Dec. 31 Frederick sold 12,000 share of O'Neal for $162,500 REQUIREMENTS: 1. Prepare journal entries on the books of Frederick based on the information given. 2. Prepare journal entries on the books of O'Neal based on the information given. 3. Assume all of the facts about Frederick's investment EXCEPT that there is NO significant influence. Prepare the entries for Frederick. Page 1 ot1 163 Words English (US) 136%