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As a long-term investment at the beginning of the 2021 fiscal year, Florists international purchased 25% of Nursery Supplies Inc.'s 12 million shares for $72
As a long-term investment at the beginning of the 2021 fiscal year, Florists international purchased 25% of Nursery Supplies Inc.'s 12 million shares for $72 million. The fair value and book value of the shares were the same at that time. During the year, Nursery Supplies earned net income of $56 million and distributed cash dividends of $2.00 per share. At the end of the year, the fair value of the shares is $68 million. Required: Prepare the appropriate journal entries from the purchase through the end of the year (if no entry is required for a transaction/event, select "No journal entry required in the first account fleld. Enter your answers in mililons, (l.e. 10,000,000 should be entered as 10.) View transaction list Journal entry worksheet As a long-term investment at the beginning of the 2021 fiscal year, Florists International purchased 25% of Nursery Supplies Inc.'s 12 million shares for $72 million. The fair value and book value of the shares were the same at that time. During the year , Nursery Supplies earned net income of $56 million and distributed cash dividends of $200 per share. At the end of the year, the fair value of the shares is $68 million Required: Prepare the appropriate journal entries from the purchase through the end of the year (if no entry is required for a transaction/event, select "No journal entry required" In the first account fleld. Enter your answers in mililons, (l.e., 10,000,000 should be entered as 10.) View transaction list Journal entry worksheet ere to search f
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