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Jackson Company engaged in the following investment transactions during the current year. Feb. 17 Purchased 410...

Jackson Company engaged in the following investment transactions during the current year.

Feb. 17 Purchased 410 shares of Medical Company common stock for $25 per share plus a brokerage commission of $50. Jackson does not have significant influence over Medical.
April 1 Bought 21,000 of the 100,000 outstanding shares of Olde Company for $210,000. Goodwill of $71,000 was included in the price.
June 25 Received a $1.10 per share dividend on Medical Company stock.
June 30 Olde Company reported second-quarter profits of $11,000.
Oct. 1 Purchased 1,100 bonds of Alpha Company for $16 per bond plus a brokerage fee of $310. These bonds are classified as securities available for sale.
Dec. 31 Medical Co. shares are selling for $30 and Alpha bond is selling for $13.

  
Required:
Prepare the appropriate journal entries to record the transactions for the year including year-end adjustments. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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ekkarill92 answered 2 years ago
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