Entries for equity investments: 20%50% ownership

On January 4, 20Y4, Ferguson Company purchased 100,000 shares of Silva Company's common stock directly from one of the founders for a price of $58 per share. Silva has 400,000 shares outstanding, including the Daniels shares. On July 2, 20Y4, Silva paid $290,000 in total dividends to its shareholders. On December 31, 20Y4, Silva reported a net income of $934,000 for the year.

a. Journalize the Ferguson Company entries for the transactions involving its investment in Silva Company during 20Y4. If an amount box does not require an entry, leave it blank.

20Y4, Jan. 4		fill in the blank d98d8e03efebff1_2	fill in the blank d98d8e03efebff1_3
		fill in the blank d98d8e03efebff1_5	fill in the blank d98d8e03efebff1_6
20Y4, July 2		fill in the blank d98d8e03efebff1_8	fill in the blank d98d8e03efebff1_9
		fill in the blank d98d8e03efebff1_11	fill in the blank d98d8e03efebff1_12
20Y4, Dec. 31		fill in the blank d98d8e03efebff1_14	fill in the blank d98d8e03efebff1_15
		fill in the blank d98d8e03efebff1_17	fill in the blank d98d8e03efebff1_18

b. Determine the December 31, 20Y4, balance of Investment in Silva Company Stock. $fill in the blank bc5fc5fc5fcd047_1