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Remaining Journal entry worksheet:

2: Record dividend income.

3: Recognize the fair value of the investments at year end.

4: Record adjusting entry to account for net income.

Required information [The following information applies to the questions displayed below.) Below are selected T-accounts related to equity investments for William Company. 1/1 Balance Investments 83,622 12,859 Purchase Share of affiliate's earnings ? 10,115 Share of affiliate's dividends 12/31 Balance 89,360 Equity in Investee Earnings 0 1/1 Balance Share of affiliate's earnings 2,994 12/31 Balance Required: a. Prepare the journal entry for the purchase of additional investments in affiliated companies for cash. b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $62,500; the affiliates also reported $5,850 in net income for the year. Prepare the year-end journal entry. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record purchase of additional investment in affiliates. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general Journal

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