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Johnson Inc.'s non-strategic Investment portfolio at December 31, 2019, consisted of the following: Debt and Equity Investments 11,600 Xavier Corp. common shares 2,050 Young Inc.
Johnson Inc.'s non-strategic Investment portfolio at December 31, 2019, consisted of the following: Debt and Equity Investments 11,600 Xavier Corp. common shares 2,050 Young Inc. common shares 136,000 Zed Corp. common shares Cost $189,660 106,600 44,860 Fair Value $168,200 101,680 40,400 "The fair value adjustments were recorded on December 31, 2019. Johnson had no other debt and equity investments at December 31, 2019, other than those shown above. During 2020, Johnson engaged in the following transactions: 2020 Jan. 17 Sold 1,550 common shares of Young Inc. for $74,400. Johnson Inc. planned to hold these shares for less than one year Mar. 3. Purchased 6,680 connon shares of Allen Corp. for $396,000. The shares represent 30% ownership in Allin Corp. June 7 Received dividends from Allen Corp. at the rate of $4.10 per share. Aug. 14 Sold the remaining Young Inc. shares at $33.10. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 11,600 common shares at a total of $103,240. Johnson Inc. will well these shares in six to nine months Dec. 30 Sold 11,600 shares of Xavier Corporation for $185,600. Dec. 31 Allen Corp. announced a net profit of $286,000 for the year Required: Journalize the above transactions
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