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Please help Kelly Corporation-550 shares of common stock no par) at $60 per share. Keele Corporation--330 shares preferred stock (510 parya 520 per share on
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Kelly Corporation-550 shares of common stock no par) at $60 per share. Keele Corporation--330 shares preferred stock (510 parya 520 per share on December 31, 2020, the company's year. end, the quoted market prices were as follows Kelly Corporation common stock, 552, and Keete Corporation preferred stock, 124 Following are the data for 2021. Mar 2, 2021 Dividends per share declared and paid Kelly Corp. $1, and Keefe Corp. 50.50 Oct 1, 2021 Sold 10 shares of Keefe Corporation preferred stock at $25 per share Dec 31, 2021 Fair values: Kelly common 546 per share. Keele preferred, $26 pershire Journal Entries and Financial Statement Presentation for 2020 Journal Entries and Financial Statement Presentation for 2021 d. Prepare the entries required in 2021 to record dividend revenue, the sale of stock, and the fair value adjustment Update the Fair Value Adjustment account prior to recording any sale Eliminate Note: List multiple debits or credits (when applicable in alphabetical order Date Account Name Dr. CF M2.2021 Cash 715 Didend Revenue . 0 115 Oct. 1.202 Fara Austment Equity Secure 2200 M O Unrere Gano Lincome 0 2200 Oct20 ca Far Wednoty Securities Westment in Stock 250 O Ow 550 2200 102t une Garonne 10 0 Indicate items and amounts that should be reported on the 2021 income statement and year end blance sheet Note: Use a native in to indicates Income Statement 2021 Othere and Gaint Didende Nel can doon uity Seconds 2.750 20:31 Balance Sheet, December 31 Assets Investment in equiry seuntes 3150 Step by Step Solution
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