The following events are for King Investment Inc.:
Feb. Purchased shares of Jack Inc. common shares for $including transaction fees of $ Jack has
common shares outstanding and has acknowledged the fact that its policies will be significantly
influenced by King.
ct Jack declared and paid a cash dividend of $ per share.
Dec. Jack announced that profit for the year amounted to $
April Jack declared and paid a cash dividend of $ per share.
Dec. Jack announced that profit for the year amounted to $
King sold shares of Jack for $
Required:
Prepare general journal entries to record each transaction. Round per share calculations to decimal places. Round your final
answers to the nearest dollar.
