picture is part $2$

part $1-$ h$.$ Purchased $40,000$ shares of Pinkberry Co$.$ stock directly from the founders for $$24$ per share. Pinkberry has $125,000$ shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment.

Description Debit Credit

Investment in Pinkberry Co$.$ Stock

fill in the blank $49$

$40,000$

fill in the blank $51$

$40,000$

i$.$ Declared a $$1\mathrm{.}00$ quarterly cash dividend per share on preferred stock. On the date of record, $20,000$ shares of preferred stock had been issued.

Description Debit Credit

fill in the blank $53$

fill in the blank $55$

j$.$ Paid the cash dividends to the preferred stockholders.

Description Debit Credit

fill in the blank $57$

fill in the blank $59$

k$.$ Received $$27,500$ dividend from Pinkberry Co$.$ investment in $($h$).$

Description Debit Credit

fill in the blank $61$

fill in the blank $63$

l$.$ Purchased $$90,000$ of Dream Inc. $10-$year, $5\%$ bonds, directly from the issuing company, at their face amount plus accrued interest of $$375.$ The bonds are classified as a held$-$to$-$maturity long$-$term investment.

Description Debit Credit

fill in the blank $65$

fill in the blank $66$

fill in the blank $68$

fill in the blank $69$

fill in the blank $71$

fill in the blank $72$

m$.$ Sold, at $$38$ per share, $2,600$ shares of treasury common stock purchased in $($g$).$

Description Debit Credit

fill in the blank $74$

fill in the blank $75$

fill in the blank $77$

fill in the blank $78$

fill in the blank $80$

fill in the blank $81$

n$.$ Received a dividend of $$0\mathrm{.}60$ per share from the Solstice Corp. investment in $($f$).$

Description Debit Credit

Cash Dividends

fill in the blank $83$

Dividend Revenue

fill in the blank $85$

o$.$ Sold $1,000$ shares of Solstice Corp. at $$45,$ including commission.

Description Debit Credit

fill in the blank $87$

fill in the blank $88$

fill in the blank $90$

fill in the blank $91$

fill in the blank $93$

fill in the blank $94$

p$.$ Recorded the payment of semiannual interest on the bonds issued in $($c$)$ and the amortization of the premium for six months. The amortization is determined using the straight$-$line method.

Description Debit Credit

fill in the blank $96$

fill in the blank $97$

fill in the blank $99$

fill in the blank $100$

fill in the blank $102$

fill in the blank $103$

q$.$ Accrued interest for three months on the Dream Inc. bonds purchased in $($l$).$

Description Debit Credit

fill in the blank $105$

fill in the blank $107$

r$.$ Pinkberry Co$.$ recorded total earnings of $$240,000.$ Equinox Products recorded equity earnings for its share of Pinkberry Co$.$ net income.

Description Debit Credit

fill in the blank $109$

fill in the blank $111$

s$.$ The fair value for Solstice Corp. stock was $$39\mathrm{.}02$ per share on December $31,20$Y$2.$ The investment is adjusted to fair value, using a valuation allowance account. Assume that Valuation Allowance for Available$-$for$-$Sale Investments had a beginning balance of zero.

Part $1$ has about $2$ answers each.