Question
On January 1 2020 Potter Company purchased 100 of the 1000 shares of Voldomort Company for $800. Potter has no significant influence over Voldomort On
On January 1 2020 Potter Company purchased 100 of the 1000 shares of Voldomort Company for $800. Potter has no significant influence over Voldomort
On July 1, 2020 Voldomort declared and paid a $1 per share dividend
On December 31st Voldomort's stock was selling for $9 per share; Voldomort reported income of $4000
On January 1 2021 Potter Company purchased 300 shares of Voldomort Company for $2700. Potter now has two seats on the Voldomort Board of Directors
On March 1, Voldomort had a two for one stock split.
On July 1, Voldomort declared and paid a $1 per share dividend
On December 31st Voldomort reported income of $5000 and its stock was selling for $7 per share
On July 1, 2022 Voldomort announced that it will not pay a dividend in 2022.
On December 31st Voldomort reported a loss of $2000 and its stock was selling for $5 per share
On January 3rd 2023 Potter sold all of its shares in Voldomort at $5.50 per share
A) MAKE THE REQUIRED JOURNAL ENTRIES FOR POTTER CONNECTED WITH ITS OWNERSHIP OF VOLDOMORT STOCK IN:
2020
2021
2022
2023
B) FILL IN THE FOLLOWING TABLE
2020 2021 2022
Investment in Voldomort
Income from investment in VOldomort
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