will you PLEASE HELP WITH PROBLEM? I need some help with journal


Question Description:

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will you PLEASE HELP WITH PROBLEM? I need some help with journal entries, I want o make sure I am doing this correctly. PROBLEM 1.xlsx On January 1, 2012 Clinton Company purchased 100 of the 1000 shares of Sanders Company for $4000. At this time the book value of Sanders Company was $40,000. In 2012 Sanders Company reported income of $3,000 and paid no dividends. On 12/31/2012 Sanders’ Company stock was selling for $44 per share. At this time Clinton does not have influence over Sanders. On January 2, 2013 Clinton purchased another 150 shares of Sanders Company for $6750. With this purchase, Clinton now sits on the board of Sanders Company. During 2013, Sanders reported income of $5000 and paid a $3000 in dividends. On 12/31/2013 Sanders’ stock was selling for $46 per share. In 2014 Sanders Company reported a loss of $1000 and paid a $2000 dividend. On 12/31/2014 Sanders’ stock was selling for $38 per share On January 10th 2015 Clinton Company sold 200 of its shares in Sanders’ Company at $41 per share. After this sale, Clinton was removed from the board of Sanders Company and Clinton no longer has influence over Sanders Company. In 2015 Sanders reported income of $6000 and paid $1000 in dividends. On 12/31/2015 the market price of Sanders stock was $39 On January 14th 2016 Clinton sold its remain Sanders stock at $40 per share REQUIRED: MAKE ALL THE NECESSARY JOURNAL ENTRIES FOR CLINTON WITH RESPECT TO ITS INVESTMENT IN SANDERS FROM 2012 TO 2016….DON’T FORGET THE ORIGINAL PURCHASE OF SANDERS STOCK ON 1/1/2012

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