The following events are for Toronto Investment Inc.: 2023 Jan. 14 Purchased 18,320 shares of...
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The following events are for Toronto Investment Inc.: 2023 Jan. 14 Purchased 18,320 shares of Quatro Inc. common shares for $164,900 (including transaction fees of $50 ). Quatro has 91,600 common shares outstanding and has acknowledged the fact that its policies will be significantly influenced by Toronto. oct. 1 Quatro declared and paid a cash dividend of $3,40 per share. Dec. 31 Quatro announced that profit for the year amounted to $658,000. 2024 April 1 Quatro declared and paid a cash dividend of $3.50 per share. Dec. 31 Quatro announced that profit for the year amounted to $741,100. 31 Toronto sold 6,800 shares of Quatro for $108,320. Required: Prepare general journal entries to record each transaction. (Round per share calculations to 2 decimal places. Round your final answers to the nearest dollar.)
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