On January Joiner, Inc. decides to invest in shares of Gelding stock when the stock is selling for $ per share. On June Gelding paid a $ per share cash dividend to stockholders. On December Gelding reports net income of $ for Assume Gelding has shares of voting stock outstanding during and Joiner, Inc. has significant influence over Gelding.
Read the requirements.
Requirement Identify what type of investment the Gelding stock is for Joiner, Inc.,
Joiner, Inc.s investment would be investment.
Requirement Journalize the transactions related to Joiner, Inc.s investment in the Gelding stock during Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select No entry required" on the first line of the Accounts and Explanation column and leave the remaining fields blank.
January : Joiner, Inc. decides to invest in shares of Gelding stock when the stock is selling for $ per share.
June : Gelding paid a $ per share cash dividend to stockholders.
tableDateAccounts and Explanation,Debit,CreditJun
