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 the following months: 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. Required: 1. Prepare the entries to record the preceding transactions in Heritage's books. 1 Record the purchase in strategic investment. 2 Record the dividends received from strategic investment. 3 Record the share of profits of equity investment. 4 Record the dividends received in equity investment. 5 Record the share in profits of equity investment. Credit 6 Record sale in strategic investment. Note : = journal entry has been entered 2. Calculate the carrying value per share of Heritage's investment as reflected in the investment account on January 4, 2025 . (Round your answer to 2 decimal places.) 3. Calculate the change in Heritage's equity from January 2, 2023, through January 5, 2025, resulting from its investment in Port
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