As a long-term investment at the beginning of the current fiscal year, Company A purchased...
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As a longterm investment at the beginning of the current fiscal year, Company A purchased of Company Bs million shares for $ million. The fair value and book value of the shares were the same at that time. During the year, Company B earned net income of $ million and distributed cash dividends of $ per share. At the end of the year, the fair value of the shares is $ million. Required: Prepare the appropriate journal entries from the purchase through the end of the year. Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Enter your answers in millions, ie should be entered as Journal entry worksheet Record the investor's share of net income. Note: Enter debits before credits. 
As a longterm investment at the beginning of the current fiscal year, Company A purchased of Company Bs million shares for
$ million. The fair value and book value of the shares were the same at that time. During the year, Company B earned net income of
$ million and distributed cash dividends of $ per share. At the end of the year, the fair value of the shares is $ million.
Required:
Prepare the appropriate journal entries from the purchase through the end of the year.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Enter your answers
in millions, ie should be entered as
Journal entry worksheet
Record the investor's share of net income.
Note: Enter debits before credits.
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