Heritage Ltd. was organized on January 2, 2023. The following investment transactions and events occurred...
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Heritage Ltd. was organized on January 2, 2023. The following investment transactions and events occurred during months: 2823 Jan. 6 Heritage paid $592,500 (including transaction fees of $56 ) for 51,760 shares (26x) of Port Inc. outsta shares. Apr. 30 Port declared and paid a cash dividend of $1.39 per share. Dec. 31 Port announced that its profit for 2023 was $650,006. Fair value of the shares was $13.50 per share. 2024 Oct. 15 Port declared and paid a cash dividend of $0.90 per share. Dec. 31 Port announced that its profit for 2024 was $800,000. Fair value of the shares was $13.88 per share. 2925 Jan. 5 Heritage sold all of its investment in Port for $699,000 cash. Assume that Heritage has a significant influence over Port with its 20% share. Required: 1. Prepare the entries to record the preceding transactions in Heritage's books. Alberta Playground Inc produces, markets, distributes, and installs durable playground equipment it is a new, growing playground distributor in Canada, and is hoping to expand to other provinces shortly. its head office is in Edmonton, and its 2023 and 2022 balance sheets and income statements follow
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