Question 2 of 9 Durins 2021, Colorado Co stock was vold for \$9, \$so. The fair walue of the stock on December 31, 2021, was Clemson Corp stock- (a) Prepare the adjuctinejoumul entry needed on Docember 31,2020. (b) Prenare the iournal entry to record the sale of the Calorido Ca stock dirine 2021. (c) Prepure the adiuting joumal eniry needed on Desenber 31,2021. (Credit account titles are automatically indented when amount is entered. Do oot indent manvaliy If no entry is required, select 'No Entry' for the account fities and enter O for the amounts.) Prepure Riverbeds journal entries related to this imveiurent. (Credit account titles are outemotically indented when amount is entered. Do not indent manually if ne entry is required, select 'No Entry' for the account titles and enter o for the ameunts ! Round answers to 2 decimal places, es, 2.525.25. Credit account titles are automatically indented when amount is entered Do not indent manually, If ao entry is reauired, select "No Entry" for the account titles and enter of for the amount') (a) How much was Flounder Co's share of Culver Co's net income for the year? Net income (b) What was Culver Co's total net income for the year? Total net income (c) What was Culver Co's total dividends for the year? Total Dividends Credit occount tities are autematically indented when amount is entered. Do not indent manually. If ne entry it required. celect "No Entry" for the accaunt titles and enter o for the amounts.) exhlyeif: Use thelinformation in the followine T-account for the investment in Cuher to answer the following guestlons (a) How moch was Flounder Ca'sshare of Culver Ca's pet income for the wear? Net incoene (b) What was Culver Cols total net income for the vear? Jotal net income (c) What was Culver Cav total dikidends toc the year? Totar Dividends On January 1,2020, Marin Comparmy purchased 12, bonds, having a maturity value of $308,000 for $331,350,96. The bonids provide. each year, Marin Compary uses the effective-interest mothod to allocate unamortized discount or premium. The bonds are classifed as avaliable-for-sale category. The fair value of the bonds at December 31 of each year-end is as follows. (a) Prepare the journal entry at the date of the bend purchase. (b) Prepare the journat entries to record the interest accrual and amortization, and the recognition of fair value for 2020 . (c) Prepare the journal entry to record the recognition of fair value for 2021 (Round answers to 2 decimal piaces, e.3. 2.525.25. Credit account tities are automaticalif indented when amount is entered. Do not indent inumually. If no entry is required, select "No Entry" for the account tities and enter o for the amounts.)
