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Question1 Early in its 2017 fiscal year (December 31 year end), Whispering Winds Company purchased 10,700 shares of Kenyon Corporation common shares for $26.18 per
Question1 Early in its 2017 fiscal year (December 31 year end), Whispering Winds Company purchased 10,700 shares of Kenyon Corporation common shares for $26.18 per share, plus $1,800 in brokerage commissions. These securities were accounted for at FV-OCI (with no recycling), and transaction costs are capitalized. In September, Kenyon declared and paid a dividend of $1.02 per share, and on December 31, 2017, the fair value of these shares was $290,505. On April 13, 2018, Whispering Winds sold all the Kenyon shares at a price of $28.10 each, incurring $1,925 in brokerage commissions on the sale Prepare the entry to record the purchase of the Kenyon shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS
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