The following information pertains to Yankee Corps investment portfolio.

On August 1, 2015 Yankee Corp used cash to purchase 10,000 shares of common stock in Shakespeare Inc. for $20/share.

Yankees ownership stake in Shakespeare is approximately 2%.

Although Yankee is open to the possibility of selling the investment, they are not actively trying to sell it in the next 1-3 months.

As of September 30, 2015, the Wall Street Journal indicates that the market value of the shares is $21/share.

As of December 31, 2015, the Wall Street Journal indicates that the market value of the shares is $18/share.

Propose the journal entries at each of the dates below (if a JE is necessary.) If a journal entry is not necessary, explain why not. Show your work. Responses to short answer questions should be between 2-5 sentences.

August 1, 2015:

September 30, 2015:

December 31, 2015:

How would the accounting be different if they were actively trying to sell the security within the next 1-3 months?

How would the accounting be different if their ownership stake represented 40% of Shakespeare Inc. and Yankee was able to exert influence on Shakespeares decision making? What about a 60% interest?