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Problem 3 - ACCOUNTING FOR INVESTMENT IN EQUITY - 25 POINTS Wisin Company had the following transaction in 2021, pertaining to investment in common stock.
Problem 3 - ACCOUNTING FOR INVESTMENT IN EQUITY - 25 POINTS Wisin Company had the following transaction in 2021, pertaining to investment in common stock. Feb 1: Purchased 5,000 shares of Yandel Corporation for $10 each share. Mar 1: Purchased 5,000 shares of Don Omar Co. for $15 each share. Jul 31: Received a cash dividend for $5 per share of Yandel Corporation. Sep 30: Received a cash dividend for $5.65 per share of Don Omar Co. Dec 1: Sold 1,000 shares of Yandel Corporation for $25 each share. At December 31, the fair value of the common stock in the market were: Yandel Corporation $28 per share Don Omar Co. $13 per share Instructions: Prepare all transaction for the dates indicated above in the
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