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Please answer all boxes:) Johnson Inc's non-strategic investment portfolio at December 31, 2022, consisted of the following: The fair value adjustments were recorded on December
Please answer all boxes:)
Johnson Inc's non-strategic investment portfolio at December 31, 2022, consisted of the following: "The fair value adjustments were recorded on December 31, 2022. Johnson had no other debt and equity investments at December 31, 2022, other than those shown above, During 2023, Johnsor engaged in the following transactions: 2023 Jan.17 5old 1,150 common shares of Young Inc. for $55,260. Johnson Inc. planned to hold these shares for less than ane year. Mar. 3 Purchased 5,800 common shares of Allen corp. for 5348,000 . The shares represent a 306 owinership In Allen corp. Mure 7 Received dividends from Allen corp, at the rate of 13.30 per share. Aug. 14 sold the remaining Young Inc. shares at $32.30. Aug. 14 Sold the remaining young Inc. shares at $32.30. these shares in six to nine months. Dec.30 Sold 16,800 shares of Xavier Corporation for $172,990. Dec.36 Sold 16,860 shares of Xavier Corporation for $1 en Corp, announced a net profit of $284,690 for the year. Journal entry worksheet 45 Record the sale of equity investment. Note: Enter debits before credits. Journal entry worksheet Record the purchase of 30% interest for $348,000. Note: Enter debits before credits. Journal entry worksheet 4567 Record the collection of dividends from strategic investment. Note; Enter debits before credits. Journal entry worksheet 12 Record the sale of equity investment. Note: Enter debits before credits. Journal entry worksheet Record the purchase of 10,800 shares. Note: Enter debits before credits. Journal entry worksheet Record the sale of 10,800 shares. Note: Enter debits before credits. Journal entry worksheet Record the share of profits in investment in associate. Note: Enter debits before credits. Analysis Component: Assume the Allen Corp. shares were sold on January 16,2024 , for $372,000. Calculate the investment income or loss and select whether it is unrealizedirealized Step by Step Solution
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