Business, 16.03.2020 17:49 antisnitch1

17-06Coronado Corporation purchased 380 shares of Sherman Inc. common stock for $12,900 (Coronado does not have significant influence). During the year, Sherman paid a cash dividend of $3.25 per share. Assume the stock is nonmarketable. Prepare Coronado’s journal entries to record (a) the purchase of the investment, (b) the dividends received, and (c) the fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.)

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17-06Coronado Corporation purchased 380 shares of Sherman Inc. common stock for $12,900 (Coronado do...

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