Question
The following events are for Toronto Investment Inc.: 2020 Jan. 14 Purchased 18,520 shares of Quatro Inc. common shares for $169,900. Quatro has 92,600 common
The following events are for Toronto Investment Inc.:
| 2020 | |||
| Jan. | 14 | Purchased 18,520 shares of Quatro Inc. common shares for $169,900. Quatro has 92,600 common shares outstanding and has acknowledged the fact that its policies will be significantly influenced by Toronto. | |
| Oct. | 1 | Quatro declared and paid a cash dividend of $3.90 per share. | |
| Dec. | 31 | Quatro announced that profit for the year amounted to $663,000. | |
| 2021 | |||
| April | 1 | Quatro declared and paid a cash dividend of $4.00 per share. | |
| Dec. | 31 | Quatro announced that profit for the year amounted to $746,100. | |
| 31 | Toronto sold 7,300 shares of Quatro for $110,820. | ||
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.)
View transaction list Journal entry worksheet
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Elementary Statistics
Authors: Mario F. Triola
12th Edition
9780321836960
