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Help me find the answer please with complete steps. thankyouu HOMEWORK (Equity Investments) Messi Holdings, Inc. had the following investment portfolio at January 1, 2021.
Help me find the answer please with complete steps. thankyouu
HOMEWORK (Equity Investments) Messi Holdings, Inc. had the following investment portfolio at January 1, 2021. Ronaldo Company 1,250 shares @ $23 each $28,750 Paul Company 700 shares @ $27 each 18,900 Ozil Company 850 shares @ $24 each 20,400 Trading investment @ cost 68,050 Securities fair value adjustment (11,400) Trading investment @ fair value 56,650 During 2021, the following transactions took place. 1. On March 1, Paul Company paid a $2.3 per share dividend. 2. On March 31, Messi Holdings, Inc. sold 400 shares of Ozil Company for $22 per share. 3. On July 15, Messi Holdings, Inc. purchased 300 more shares of Ronaldo Co. at $24 per share. 4. At December 31, 2021, the shares had the following price per share values: Ronaldo $28, Paul $25, and Ozil $26. During 2022, the following transactions took place. 5. On February 1, Messi Inc. sold the remaining Ozil shares for $14 per share. 6. On June 1, Paul Company paid a $3.5 per share dividend. 7. On December 11, Ronaldo Company declared a cash dividend of $4.2 per share to be paid in the next month. 8. At December 31, 2021, the shares had the following price per shares values: Ronaldo $26 and Paul $34. Instructions: (a) Prepare journal entries for each of the above transactions. (b) Prepare a partial statement of financial position showing the Investments account at December 31, 2021 and 2022Step by Step Solution
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