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Journalize the following long-term non-strategic investment transactions of

Tustin

Brothers Department Stores assuming the company reports changes in fair value through net income:

a.	Purchased 490 shares of Chang Bank of Canada at $46 per share, with the intent of holding the shares in the near future.
b.	Received cash dividend of $0.55 per share on the Chang Bank of Canada investment.
c.	At year-end, adjusted the investment account to current fair value, $37 per share.
d.	Sold the shares for the market price of $30 per share.

a. Journalize the following long-term non-strategic investment transactions of

Tustin

Brothers Department Stores assuming the company reports changes in fair value through net income:Purchased

490

shares of

Chang

Bank of Canada at

$46

per share, with the intent of holding the shares in the near future. (Record debits first, then credits. Explanations are not required.)

Journalize the following long-term non-strategic investment transactions of Tustin Brothers Department Stores assuming the company reports changes in fair value through net income: a. Purchased 490 shares of Chang Bank of Canada at $46 per share, with the intent of holding the shares in the near future. b. Received cash dividend of $0.55 per share on the Chang Bank of Canada investment. c. At year-end, adjusted the investment account to current fair value, $37 per share. d. Sold the shares for the market price of $30 per share. a. Journalize the following long-term non-strategic investment transactions of Tustin Brothers Department Stores assuming the company reports changes in fair value through net income: Purchased 490 shares of Chang Bank of Canada at $46 per share, with the intent of holding the shares in the near future. (Record debits first, then credits. Explanations are not required.) Accounts Debit Credit a

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