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You Try # 1 Aug 4 , Yr 1 : YouCo purchases 1 , 0 0 0 shares of TargetCo for $ 6 0 0
You Try #
Aug Yr: YouCo purchases shares of TargetCo for $ share.
Nov Yr: TargetCo pays a $ share dividend.
Dec Yr: TargetCo reports Net Income of $ for the year.
Dec Yr: TargetCo shares close the year trading for $ share.
Feb Yr: YouCo needed $$ so sold its TargetCo shares for $ share
Required: Record all of the journal entries for this investment assuming that YouCo's shares make up of TargetCo
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