The following events are for King Investment Inc.:

$2023$

Feb. $25$ Purchased $187,600$ shares of Jack Inc. common shares for $$168,860($including transaction fees of $$50)$ Jack has $938,000$

common shares outstanding and has acknowledged the fact that its policies will be significantly influenced by King.

Oct. $1$ Jack declared and paid a cash dividend of $$0\mathrm{.}50$ per share.

Dec. $31$ Jack announced that profit for the year amounted to $$702,450.$

$2024$

April $1$ Jack declared and paid a cash dividend of $$0\mathrm{.}35$ per share.

Dec. $31$ Jack announced that profit for the year amounted to $$782,180.$

$31$ King sold $78,210$ shares of Jack for $$119,540.$

Required:

Prepare general journal entries to record each transaction. $($Round per share calculations to $2$ decimal places. Round your final

answers to the nearest dollar.$)$

Journal entry worksheetThe following events are for King Investment Inc.:

$2023$

Feb. $25$ Purchased $187,600$ shares of Jack Inc. common shares for $$168,860($including transaction fees of $$50).$ Jack has $938,000$ common shares outstanding and has acknowledged the fact that its policies will be significantly influenced by King.

Oct. $1$ Jack declared and paid a cash dividend of $$0\mathrm{.}50$ per share.

Dec. $31$ Jack announced that profit for the year amounted to $$702,450.$

$2024$

April $1$ Jack declared and paid a cash dividend of $$0\mathrm{.}35$ per share.

Dec. $31$ Jack announced that profit for the year amounted to $$782,180.$

$31$ King sold $78,210$ shares of Jack for $$119,540.$

Required:

Prepare general journal entries to record each transaction. $($Round per share calculations to $2$ decimal places. Round your final answers to the nearest dollar.$)$The following events are for King Investment Inc.:

$2023$

Feb. $25$ Purchased $187,600$ shares of Jack Inc. common shares for $$168,860($including transaction fees of $$50).$ Jack has $938,000$ common shares outstanding and has acknowledged the fact that its policies will be significantly influenced by King.

Oct. $1$ Jack declared and paid a cash dividend of $$0\mathrm{.}50$ per share.

Dec. $31$ Jack announced that profit for the year amounted to $$702,450.$

$2024$

April $1$ Jack declared and paid a cash dividend of $$0\mathrm{.}35$ per share.

Dec. $31$ Jack announced that profit for the year amounted to $$782,180.$

$31$ King sold $78,210$ shares of Jack for $$119,540.$

Required:

Prepare general journal entries to record each transaction. $($Round per share calculations to $2$ decimal places. Round your final answers to the nearest dollar.$)$