Question
Part (b) Sigma Corp common shares (FVOCI-elect) On January 15, 2022, Alpha Inc acquired 100,000 shares, representing 10% of the outstanding shares of Sigma
Part (b) Sigma Corp common shares (FVOCI-elect) On January 15, 2022, Alpha Inc acquired 100,000 shares, representing 10% of the outstanding shares of Sigma Corp at a price of $13 per share plus brokerage commission of $6,000. On August 1, 2022, Sigma Corp declared and paid a dividend of $1.00 per share. On December 31, 2022, the shares of Sigma Corp were trading on the Stock Exchange at $14 per share. Required: Prepare journal entries to record the above transactions (5 marks).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Accounting For Managers Interpreting Accounting Information for Decision Making
Authors: Paul M. Collier
4th edition
978-111997967, 1119979676, 978-1119979678
