Business, 28.08.2020 14:01 skyvargasov9cad

Strategic Investments completed the following investment transactions during 2018: Read the requirements Requirement 1. Joumalize Strategic's investment transactions. Explanations are not required.
Requirement 2. Classify and prepare a partial balance sheet for Strategic's Phyflexon investment as of December 31. 2018.
Jan. 14: Purchased 800 shares of Phyflexon stock, paying $50 per share. The investment represents 4% ownership in Phyflexon's voting stock. Strategic does not have significant influence over Phyflexon.
Jan. 14. Purchased 800 shares of Phyflexon stock, paying $50 per share.
Aug 22: Received a cash dividend of $0.24 per share on the Phyflexon stock.
Dec. 31. Adjusted the investment to its current market value of $45 per share.
Dec. 31: Phyflexon reported net income of $330,000 for the year ended 2018.

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Strategic Investments completed the following investment transactions during 2018: Read the requirem...

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