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Entries for Equity Investments: Less than 2 0 % Ownership On February 2 2 , Triangle Corporation acquired 3 4 , 0 0 0 shares
Entries for Equity Investments: Less than Ownership
On February Triangle Corporation acquired shares of the outstanding common stock of Jupiter Co at $ plus commission charges of $ On June a cash dividend of $ per share was received. On November shares were sold at $ less commission charges of $ At the end of the accounting period on December the fair value of the remaining shares of Jupiter Companys stock was $ per share.
In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar.
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a Using the cost method, journalize the entry for the purchase of stock. If an amount box does not require an entry, leave it blank.
Feb.
Question Content Area
b Using the cost method, journalize the entry for the receipt of dividends. If an amount box does not require an entry, leave it blank.
June
Question Content Area
c Using the cost method, journalize the entry for the sale of shares. If an amount box does not require an entry, leave it blank.
Nov.
Question Content Area
d Using the cost method, journalize the entry for the change in fair value. If an amount box does not require an entry, leave it blank.
Dec.
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