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Prepare the journal entries for original purchase of shares

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Question - ABC Corporation purchased 50,000 shares of XYZ Corporation at $11 per share. This investment does not represent significant ownership in xyz and was made with the intent of short-term trading profits. Prepare the journal entries for the following scenarios:

a. Original purchase of shares.

b. XYZ Corporation declared and paid dividends of $0.50 per share.

c. The stock price of xyz closed at $13 at the end of the year.

Reference no: EM132047153

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