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I need help to solve this question... Johnson Inc.'s non-strategic investment portfollo at December 31,2022 , consisted of the following: The fair value adjustments were
I need help to solve this question...
Johnson Inc.'s non-strategic investment portfollo at December 31,2022 , consisted of the following: "The fair value adjustments were recorded on December 31, 2022. Johnson had no other debt and equity investments at December 31, 2022, other than those shown above. During 2023, Johnson engaged in the following transactions: 2023 Jan.17 Sold 1,700 common shares of Young Inc. for $81,600. Johnson Inc. planned to hold these shares for less than one year. Mar. 3 Purchased 6,900 common shares of Allen Corp. for $414,000. The shares represent a 30t ownership in Alten Corp. June 7 Received dividends from Allen Corp. at the rate of $4.40 per share. Aug.14 Sold the remaining Young Inc. shares at $33.40. Nov. 28 Purchased a 54 ownership in Davis Corp. by acquiring 11,900 comon shares at a total of $105,910. Johnson. Inc. will sell these shares in six to nine months. Dec. 30 Sold 11, 90e shares of Xavier Corporation for $190,400. Dec. 31 Allen Corp. announced a net profit of $289,500 for the year. Required: Journalize the above transactions: Journal entry worksheet Analysis Component: Assume the Allen Corp. shares were sold on January 16, 2024, for $383,000. Calculate the investment income or loss and select whether it is unrealized/realized? Analysis Component: Assume the Allen Corp. shares were sold on January 16,2024 , for $383,000. Calculate the investment income or loss and select whether it is unrealized/realized Step by Step Solution
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