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please help fix the incorrect answers! On November 1 of Year 1, Onucker Co, accuired the following investments in equity securities measured at FV.NI. On

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On November 1 of Year 1, Onucker Co, accuired the following investments in equity securities measured at FV.NI. On December 31. the companys year-end, the quoted market prices were as follows: Kelly Corporation common stock, 552 , and Keefe Corporation preferred stock, s24. Following are the data for the following year (Year 2 ). Mar. 02: Dwidends per share, dectared and paid: Kelly Corp., 51, and Keefe Corp. $0.50. Oct, O1: Sold 180 shares of keefe Corporation preferred stock at 525 per share. Dec 31: Fair values: Kelly common, $46 per share, Keefe preferred, $26 per share. Year 2 a. Prepare the entry for Drucker Company to record the purchase of the secunties b. Prepare any adjusting entry needed at December 31, Year 1. Note. If a joumal entyy an't required for the transaction, select "N/A-Debit" and "N/A-Credit" as the account names and leave the Dr, and Cr. answers blank (seral a. Prepare the entry for Drucker Company to record the purchase of the securities. b. Prepare any adjusting entry needed at December 31 , Year 1. Note: If a journal entry isn't required for the transaction, select "N/A-Debit" and "N/A-Credit" as the account names and c. Indicate the items and amounts that should be reported on the Year 1 income statement of Drucker and its year-end bal. Note: Use a negative sign to indicate a loss. d. Prepare the entries required in Year 2 to record dividend revenue, the sale of stock, and the fair value adjustment. Assume t investment portfolio on December 31 , Year 2. e. Indicate items and amounts that should be reported on the Year 2 income statement and year-end balance sheet. Note: Use a negative sign to indicate a loss

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