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solve Entries for equity investments: less than 20% ownership On February 22, Triangle Corportion aequired 2,800 shares of the 100,000 outstanding common stock of Juplter
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Entries for equity investments: less than 20% ownership On February 22, Triangle Corportion aequired 2,800 shares of the 100,000 outstanding common stock of Juplter Co. at 523,90 plus commission charges of $280. On June 1, a cash dividend of $1.00 per share was received. On November 12,900 shares were sold at $29 less commission charges of $108. At the end of the accounting period on December 31 , the fair value of the remaining 1,900 shares of Jupiter Company's stock was $24,50 per share. In your computations, round per share amounts to two decimal piaces. When required, round final answers to the nearest dollar. a. Using the cost method, foumalize the entry for the purchase of stock. If an amount box does not require an entry, leave it blank. feb. 22 7 check My werk a. When recording the purchase of the investment, consider the arnount of the brokerage commission. b. Using the cost method, journalize the entry for the receipt of dividends. If an amount box does not require an entry, leave it blank: june 1 Fepestack. F crea Uy woik b. Record the revenue earned. c. Using the cost method, Journalize the entry for the saln of 900 thanes. If an amount bok does not requine an entry, leave it blank. Nov. 12 F Check My Work c. When recording the cash recelved, consider the commission. To complete the entry determine and gain or loss to be recorded Step by Step Solution
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