Business, 12.03.2020 20:07 mariamakonteh31

The Dunn Company had the following transactions and adjustment related to a stock investment:

2016
Jan. 15 Purchased 12,000 shares of Van, Inc.’s common stock at $10 per share plus a brokerage commission of $900. These shares represent a 30 percent ownership of Van’s common stock.
Dec. 31 Received a cash dividend of $2.25 per share of common stock from Van.
Dec. 31 Made the adjusting entry to reflect income from the Van stock investment. Van’s 2016 net income is $85,000.
2017
Jan. 20 Sold all 12,000 shares of the Van common stock for $125,500.
Record the transactions and adjustment of the Dunn Company using journal entries

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The Dunn Company had the following transactions and adjustment related to a stock investment:
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