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Prepare the journal entries for year-end adjustments

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Grouper Co. had purchased 190 shares of Washington Co. for $41 each this year (Oregon Co. does not have significant influence). Grouper Co. sold 95 shares of Washington Co. stock for $46 each. At year-end, the price per share of the Washington Co. stock had dropped to $36.

Prepare the journal entries for these transactions and any year-end adjustments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Reference no: EM131798327

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