Present Entries to Record the Following Selected Transactions of Masterson $\$ 10$

question 8

Essay

Present entries to record the following selected transactions of Masterson Co. (a) Purchased 600 shares of the 100,000 shares outstanding $\$ 10$ par common shares of Dankin Corporation for $\$ 5,100$ .
(b) Purchased 3,500 shares of the 10,000 shares no par common shares of Ramon Co. for $\$ 45,700$ . The investment was accounted for by the equity method.
(c) Received a cash dividend of $\$ 1$ per share on the Dankin Corporation stock acquired in (a).
(d) Received a cash dividend of $\$ 2$ per share on the Ramon Co. stock acquired in (b).
(e) Sold 100 shares of the Dankin Corporation shares acquired in (a) for $\$ 2,100$ .
(f) Dankin Corporation reported net income of $\$ 30,000$ and Ramon Company's reported net income was $\$ 50,000$ .

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Definitions:

Chronic Depression

A prolonged state of depression that can last for years, also known as persistent depressive disorder, characterized by a depressed mood most of the day, more days than not.

Antidepressants

Medications used to treat depression and other mood disorders by adjusting chemical imbalances in the brain.

Psychotherapy

A treatment approach involving psychological methods, primarily verbal interaction, to help improve an individual's mental health and resolve personal problems.

Problem-Solving Approach

A cognitive-behavioural treatment that involves the client in determining the problem definition and formulation, generating alternative solutions to deal with the problem, deciding on the best solution to implement, and then implementing and evaluating the solution.