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Question 4 (14 marks) During 2020 and 2021, Alaska Corporation had the following investment transactions, 2020 Feb 2 Purchased 12,000 of the voting common shares
Question 4 (14 marks) During 2020 and 2021, Alaska Corporation had the following investment transactions, 2020 Feb 2 Purchased 12,000 of the voting common shares of Maine Corporation at 582 per share. Alaska intends on holding this investment long-term and wil apply the fair value method of accounting for investments Jul 31 Received a cash dividend from Maine Corporation, $225 per share Dec 3 The shares of Maine Corporation were valued at $85 per share. 2021 Apr 30 Due to cash shortages, Alaska Corporation sold 30% of their shares of Maine for $0 per share. June 30 Received a cash dividend from Maine Corporation, $250 per share. Dec 3 The shares of Maine Corporation were valued at $89 per share. Record the investment transactions from 2020 and 2021 for Alaska Corp. (14 marks)
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