Prior to 2016, The Givengreet Company's investments were limited to short-term government securities . On January 2, 2016 , Givengreet bought a 25%...
Please explain the how you got the numbers For the journal entry. The solution is the second pic. Thnaks.
Prior to 2016, The Givengreet Company's investments were limited to short-termgovernment securities . On January 2, 2016 , Givengreet bought a 25% interest in theNelson Corporation for $82.0, 000. On October 1 , Nelson paid a total dividend of $60, 000to all of its shareholders . At December 31 , 2016, the current market value of Givengreet'sinvestment in Nelson was $860, 000 . Nelson's net income for 2016 was $220, 000.dontireDuring 2017, Nelson had significant business reversals , and it's net loss for the year was$2, 80 0, 0 0 0`$1, 000, 000 . The total market value of all of Nelson's stock at December 31 , 2017 wasdoniceOn March 1 , 2018, when Nelson's net income for the first two months of the year was$40, 000 , Givengreet sold its investment in Nelson for $590, 000 .Provide all the journal entries relating to Givengreet's investment in Nelson during theyears 2016 - 2018.
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