In early 2017,Kalkay Inc.found itself with idle cash that it decided to invest in the shares of another business.The following events transpired in 2017 and 2018:
2017
Jan 23 Kalkay Inc. purchased 2,000 shares in Tiodnaci Corporation at 16.25 per share and paid a brokerage fee of $ \$ 650 $. This investment was classified as a short-term investment
Nov, 15 A dividend of $ \$ 1.25 $ per share was received on the Tiodnaci Corporation shares. Dec. 31 This is the end of the fiscal year for Kalkay Inc. On this date the Tiodnaci Corporation shares were worth 18.50 per share. 2018
Jan. 27 Kalkay Inc, sold 500 Tiodnaci Corporation shares for 18.00 per share.
Mar 30 A dividend of $ \$ 2 $ per share was received on the Tiodnaci Corporation shares,
Jun. 30 Kalkay Inc. sold all of the remaining Tiodnaci Corporation shares for 21.00 per share
Prepare journal entries for the above transactions.

Question

In early 2017,Kalkay Inc.found itself with idle cash that it decided to invest in the shares of another business.The following events transpired in 2017 and 2018:
2017
 Jan 23 Kalkay Inc. purchased 2,000 shares in Tiodnaci Corporation at 16.25 per share and paid a brokerage fee of $ \$ 650 $. This investment was classified as a short-term investment 
Nov, 15 A dividend of $ \$ 1.25 $ per share was received on the Tiodnaci Corporation shares. Dec. 31 This is the end of the fiscal year for Kalkay Inc. On this date the Tiodnaci Corporation shares were worth 18.50 per share.  2018
 Jan. 27 Kalkay Inc, sold 500 Tiodnaci Corporation shares for 18.00 per share.
Mar 30 A dividend of $ \$ 2 $ per share was received on the Tiodnaci Corporation shares,
Jun. 30 Kalkay Inc. sold all of the remaining Tiodnaci Corporation shares for 21.00 per share
 Prepare journal entries for the above transactions.

Quizplus · Accepted Answer

The Answer of In early 2017,Kalkay Inc.found itself with idle cash that it decided to invest in the shares of another business.The following events transpired in 2017 and 2018:
2017
 Jan 23 Kalkay Inc. purchased 2,000 shares in Tiodnaci Corporation at 16.25 per share and paid a brokerage fee of $ \$ 650 $. This investment was classified as a short-term investment 
Nov, 15 A dividend of $ \$ 1.25 $ per share was received on the Tiodnaci Corporation shares. Dec. 31 This is the end of the fiscal year for Kalkay Inc. On this date the Tiodnaci Corporation shares were worth 18.50 per share.  2018
 Jan. 27 Kalkay Inc, sold 500 Tiodnaci Corporation shares for 18.00 per share.
Mar 30 A dividend of $ \$ 2 $ per share was received on the Tiodnaci Corporation shares,
Jun. 30 Kalkay Inc. sold all of the remaining Tiodnaci Corporation shares for 21.00 per share
 Prepare journal entries for the above transactions.

In Early 2017,Kalkay Inc $650 \$ 650 $650 This Investment Was Classified as a Short-Term Investment

In Early 2017,Kalkay Inc $\$ 650$ This Investment Was Classified as a Short-Term Investment