As listed, X has the following investment portfolio. X bought the stocks during 2014. X's investment...

As listed, X has the following investment portfolio. X bought the stocks during 2014. X's investment in each of the companies accounts for less than 1% of each company's outstanding common shares.

__________Original Fair Value

__________Cost _____12-31-14______ 12-31-15 ______12-31-16

A's Company stock $50,000 $51,000 $22,000 $41,000

B's Company stock $40,000 $35,000 $37,000 $48,000

C's Company stock $60,000 $77,000 $95,000

On 02-14-16, X sold all of the C stock for $124,000.

On 11-15-16, X received a $1,000 dividend on its investment in B Company. This was the first dividend X received on its equity investments.

Assume X only prepares AJEs every December 31. Prepare the entries X should make on:

12-31-14.
12-31-15.
02-14-16.
11-15-16.
12-31-16.

Expert Solution

ekkarill92 answered 1 year ago

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