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This is a question from ACCT202, about investment. Please show all the work! Tank you very much! Journalize the following transactions , all securities purchased

This is a question from ACCT202, about investment. Please show all the work! Tank you very much!

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Journalize the following transactions , all securities purchased will be held for long term appreciation :" 1 . Purchase 30 , 000 shares of * Y Z Company for $ 28.30 per share plus $1 , 000 commission . XYZ Company is traded on the New York Stock Exchange and has 1, 000, 000 shares of voting stock authorized of which 100, 000 shares are issued and outstanding . XYZ supplies our company with various products . We are XYZ's largest shareholder . 2 . Purchase 1000 shares of ABC Company for $100, 000, plus a $5, 000 commission The percentage of ownership is less than 1% 3 . XYZ Company declares and distributes a cash dividend of $1 . 10 per share ABC Company declares and distributes a cash dividend of $5. 00 per share 4 . XYZ Company reports it has total income for the year of $ 450 , 000 . A BC Company reports it has $7,000, 000 of income for the year . Year end market value of ABC Company is $97.50 per share Required : A. Journalize all necessary activity above ( 1 - 4 ) . B. How are available- for- sale securities listed on the Balance Sheet and at what amount ? How is this different from trading securities ? Disregard Alert at bottom of page 636 in answering this

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