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Johnson Inc.'s non-strategic investment portfolio at December 31, 2022, consisted of the following: *The fair value adjustments were recorded on December 31,2022. Johnson had no
Johnson Inc.'s non-strategic investment portfolio 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 June 7 Received dividends from A1len Corp. at the rate of $4.10 per share. Aug.14 Sold the remaining Young Inc. shares at $33.10. 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 $288,000 for the year. Required: Journalize the above transactions. Journal entry worksheet 2 3 4 5 Record the sale of equilty investment. Note: Enter debits before credits. Analysis Component: Assume the Allen Corp. shares were sold on January 16,2024 , for $380,000. Calculate the investment income or loss and select whether it is unrealized/realized
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