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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 | ||||
REQUIRED: | ||||
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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