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Question - On January 1, 2021, Barbie Company acquired 50,000 shares of Ken Corp Limited at $6 per share, representing 10% of Ken Corp's outstanding voting shares. On July 31, 2021, Ken Corp declared and paid a dividend of $1 per share. Ken Corp's net income for 2021 was $2,500,000. On December 31, 2021, the shares of Ken Corp were trading on the Toronto Stock Exchange at $12 per share.
Provide the journal entries on Barbie's books relating to its investment in Ken Corp, assuming that Barbie classifies Ken Corp Fair Value through Net income. Show your calculations.
Find what the expected total sales in dollars would be? The team plays 40 games and expects to average 70 percent attendance at each game.
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