Assignment #4 Chp 16 Investments (2).docx - Word Q Tell me what you want to do. Sign in Share Home Design References Mailings Review File Insert Layout View Cut Find 11 AA Aa E - E EE AaBbCcDc AaBbCcDc AaBbC AaBbCc AaB AaBbCcc AaBbCcD AaBb CcD Arial aReplace Select ECopy Paste Format Painter A- A Subtle Em... Emphasis BIU ab x, x T No Spac... Heading 1 1 Normal Heading 2 Title Subtitle Clipboard Font Paragraph Styles Editing invesunenuansacuoris, auCounung meuious anu vaiance sneer presenauon REQUIRED: 1 Complete the following two (2) questions NOTE: These questions are taken directly from the test bank Although the questions require you to write out journal entries, you can use these questions to of short term and long term investments and the related accounting methods to prepare the journal entries. MC questions could require you to choose joumal entry accounts and debits/credits, select the amount of dividend received, select e amount of net income allocation, determine the carrying rending balance ote Please show your work (calculations and/or T-accounts) Question 1 In early 2017, Brownlee Corporation found itself with idle cash that it decided to invest in the shares of another business, The following events transpired in 2017 and 2018 2017 Feb. 1 share This investment was classified as a short.term investmen at 15.45 per A dividend of $1 per share was received on the Green Corporation shares. This is the end of the fiscal year for Brownlee Corporation. On this date the Green Corporation shares were worth 16.50 per share. 1.000 Nov 15 Dec. 31 2018 Brownlee Corporation sold 500 Green Corporation shares for 17.50 per share REQUIRED: a) Prepare journal entries for the above transactions. 416 words Page 1 of 2 1008c English (United States) 653 AM A ENG 2019-06-13