Question 4 (14 marks) During 2020 and 2021, Alaska Corporation had the following investment transactions....
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Question 4 (14 marks) During 2020 and 2021, Alaska Corporation had the following investment transactions. 2020 Feb 14 Purchased 9,000 of the voting common shares of Maine Corporation at $68 per share. Alaska intends on holding this investment long- term and will apply the fair value method of accounting for investments. Jul 31 Received a cash dividend from Maine Corporation, $1.75 per share. Dec 31 The shares of Maine Corporation were valued at $64 per share. 2021 Apr 30 Due to cash shortages, Alaska Corporation sold 40% of their shares of Maine for $66 per share. June 30 Received a cash dividend from Maine Corporation, $1.50 per share. Dec 31 The shares of Maine Corporation were valued at $72 per share. Record the investment transactions from 2020 and 2021 for Alaska Corp. (14 marks)
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