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Entries for equity investments: less than 20% ownership On February 22, Triangle Cerporation acquired 2,400 shares of the 85.000 outstanding common stock of Jupiter Co.

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Entries for equity investments: less than 20% ownership On February 22, Triangle Cerporation acquired 2,400 shares of the 85.000 outstanding common stock of Jupiter Co. at $31. 85 plus commission charges of \$360. On June 1, a cash dividend of 30.70 per share was received. On November 12,800 shares were sold at 538 less commission charges of 596 . At the end of the accounting period on December 31 , the fair value of the remaining 1,600 shares of Jupiter Company's stock was $32.50 per share. In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar. 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. 22 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: 1 c. Using the cost method; joumaize the entry for the sale of 800 shares. If an amount box does not require an entry, leave it blank, Nov. 12 d. Using the cost method, journalize the entry for the change in fair value. If an amount box does not mquire an entry, leave it blank. Peec, 31

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