Olive Corporation purchases Branch Inc shares on June 21 for $220,000.On October 1 Olive receives a cash dividend of $2,500 from Branch Inc.On December 31^st the value of Olive Corporation's investment in Branch has decreased in value to $210,000.
Prepare journal entries needed on June 21,October 1,and December 31,2014.

Question

Quizplus · Accepted Answer

The Answer of Olive Corporation purchases Branch Inc shares on June 21 for $220,000.On October 1 Olive receives a cash dividend of $2,500 from Branch Inc.On December 31^st the value of Olive Corporation's investment in Branch has decreased in value to $210,000. Prepare journal entries needed on June 21,October 1,and December 31,2014.

Olive Corporation Purchases Branch Inc Shares on June 21 for $220,000.On