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Need help on this accounting formula equation Swifty Corporation purchased 460 shares of Nolan Inc. common stock for $15,100 (Swifty does not have significant influence).

image text in transcribedNeed help on this accounting formula equation

Swifty Corporation purchased 460 shares of Nolan Inc. common stock for $15,100 (Swifty does not have significant influence). During the year, Nolan paid a cash dividend of $4.25 per share. At year-end, Nolan stock was selling for $35.50 per share. (a) Your answer is correct. Prepare Swifty's journal entry to record the purchase of the investment. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) eTextbook and Media List of Accounts Attempts: 1 of 4 used (b) Prepare Swifty's journal entry to record the dividends received. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

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