Business, 01.12.2021 18:20 oseniiyabode123
Record the following transactions involving investments in marketable securities accounted for using the equity method.
a. Purchased 12,000 common shares of Bakersfield Co. at $9 per share; the shares represent 30% ownership in Bakersfield.
b. Received a cash dividend of $1.25 per common share from Bakersfield.
c. Bakersfield reported annual net income of $60,000.
d. Sold all 12,000 common shares of Bakersfield for $114,500.
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