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Early in its 2023 fiscal year (December 31 year end), Bramble Company purchased 8,900 Kenyon Corporation common shares for $26.18 per share, plus $1,800 in
Early in its 2023 fiscal year (December 31 year end), Bramble Company purchased 8,900 Kenyon Corporation common shares for $26.18 per share, plus $1,800 in brokerage commissions. These securities were accounted for at FV-OCl (with no recycling), and transaction costs were capitalized. In September, Kenyon declared and paid a dividend of $1.02 per share, and on December 31 , 2023 . the fair value of these shares was $241,635. On April 13, 2024, Bramble sold all the Kenyon shares at a price of $28.10 each, incurring $1,925 in brokerage commissions on the sale. Prepare the entry to record the purchase of the Kenyon shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Prepare the entry to record the receipt of the dividend. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Prepare the entry to record the fair value adjustment at December 31, 2023. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the arnounts. List debit entry before credit entry.) Prepare all entries associated with the disposal of the imvestment on April 13, 2024. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
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