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Please answer question 3. The following events are for Toronto Investment Inc.: 2023 Jan. 14 Purchased 18,200 shares of Quatro Inc. common shares for (
Please answer question 3.
The following events are for Toronto Investment Inc.: 2023 Jan. 14 Purchased 18,200 shares of Quatro Inc. common shares for \\( \\$ 161,900 \\) (including transaction fees of \\( \\$ 50 \\) ). Quatro has 91 , 000 common shares outstanding and has acknowledged the fact that its policies will be significantly influenced by Toronto. Oct. 1 Quatro declared and paid a cash dividend of \\( \\$ 3.10 \\) per share. Dec. 31 Quatro announced that profit for the year amounted to \\( \\$ 655,000 \\). 2024 April 1 Quatro declared and paid a cash dividend of \\( \\$ 3.20 \\) per share. Dec. 31 Quatro announced that profit for the year amounted to \\( \\$ 738,100 \\). 31 Toronto sold 6,500 shares of Quatro for \\( \\$ 106,820 \\). Required: Prepare general journal entries to record each transaction. (Round per share calculations to 2 decimal places. Round your final answers to the nearest dollar.) Journal entry worksheet Record the purchase of investment. Required: Prepare general joumal entries to record each transaction. (Round per share calculat answers to the nearest dollar.)Step by Step Solution
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