Exercise 15-12 Securities transactions; equity method LO P4 Listed below are a few events and transactions of Kodax Company 2017 Jan. 2 Purchased 34,000 shares of Grecco Co. common stock for $421,000 cash plus a broker's fee of $4,300 cash. Grecco has 85,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodex. Sept. 1 Crecco declared and paid a cash dividend of $2.80 per share. Dec. 31 Grecco announced that net incone for the year is $506,400. 2018 June 1 Grecco declared and paid a cash dividend of $3.40 per share. Dec. 31 Grecco announced that net income for the year is $732,900. Dec. 31 Kodax sold 13,000 shares of Grecco for $385,000 cash. Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round intermediate calculations and round your final answers to the nearest dollar amount.) Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round Intermediate calculations and round your final answers to the nearest dollar amount.) View transaction list Journal entry worksheet 2 3 4 5 6 Purchased 34,000 shares of Grecco Co. common stock for $421,000 cash plus a broker's fee of $4,300 cash. Grecco has 85,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodax. Note: Enter debits before credits. Date General Journal Debit Credit Jan 02, 2017 Record entry Clear entry View general journal Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round Intermediate calculations and round your final answers to the nearest dollar amount.) View transaction list Journal entry worksheet Grecco declared and paid a cash dividend of $2.80 per share. Note: Enter debits before credits. Date General Journal Debit Credit Sep 01, 2017 Record entry Clear entry View general journal Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round Intermediate calculations and round your final answers to the nearest dollar amount.) View transaction list Journal entry worksheet Grecco announced that net income for the year is $506,400. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31, 2017 Record entry Clear entry View general journal Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round Intermediate calculations and round your final answers to the nearest dollar amount.) View transaction list Journal entry worksheet Grecco declared and paid a cash dividend of $3.40 per share. Note: Enter debits before credits General Journal Debit Credit Date Jun 01, 2018 Record entry Clear entry View general journal Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round Intermediate calculations and round your final answers to the nearest dollar amount.) View transaction list Journal entry worksheet Grecco announced that net income for the year is $732,900. Note: Enter debits before credits General Journal Debit Credit Date Dec 31, 2018 Record entry Clear entry View general journal Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round intermediate calculations and round your final answers to the nearest dollar amount.) View transaction list Journal entry worksheet
