v2.cengagenow.com 0 Behav.Econ: Stu... Stock Portfolio... Problem set 3 - Behavioral Econ... Behavioral Econ unit circle - Goo... Course Modules.. My Home CengageNOW2.. Accounting que Homework - Chapter 15 eBook Show Me How Calculator Print Item ? 1. Equity Method for Stock Investment 2. On January 4, Year 1, Ferguson Company purchased 144,000 shares of Silva Company directly from one of the founders for a price of $45 per share. Silva has 400,000 shares outstanding, including the Daniels shares. On July 2, Year 1, Silva paid $353,000 in total dividends to its shareholders. On December 31, Year 1, Silva reported a net income of $1,345,000 for the year. Ferguson uses the equity method in accounting for its investment in Silva. a. Provide the Ferguson Company journal entries for the transactions involving its investment in Silva Company during Year 1. Year 1, Jan. 4 Year 1, July 2 Year 1, Dec. 31 b. Determine the December 31, Year 1, balance of Investment in Silva Company Stock. Check My Work 5 more Check My Work uses remaining. Previous Progress: 3/3 items Assignment Score: 0.0% Email Instructor Save and Exit Submit Assignment for Grading