journal entries for year 1 and 2

Exercise 1514 (Algo) Accounting for equity method investments LO P5 Listed below are a few events and transactions of Kodax Company. Year 1 January 2 Purchased 67,000 shares of Grecco Coopany comon stock for $576,009 cash. Grecco has 201 , eee shares of common stock outstanding, and its activities will be significantly influenced by Kodax. Septenber 1 Grecco declared and paid a cash dividend of $1. 00 per share. December 31 Grecco announced that net income for the year is $515,400. Year 2 June 1 Grecco declared and paid a cash dividend of $1.50 per share. December 31 Grecco announced that net income for the year is $747,900. Decenber 31 Kodax sold 14 , eee shares of Orecco for $180,000 cash. Prepare journal entries to record the above transactions and events of Kodax Company Note: Do not round intermediate calculations and round your final answers to the nearest dollar amount