In Early 2017,Brownlee Corporation Found Itself with Idle Cash That $\$ 1$

question 25

Essay

In early 2017,Brownlee Corporation found itself with idle cash that it decided to invest in the shares of another business.The following events transpired in 2017 and 2018:
2017
Feb. 1 Brownlee Corporation purchased 1,000 shares in Green Corporation at 16.50 per share
This investment was classified as a short-term investment.

Nov. 15 A dividend of $\$ 1$ per share was received on the Green Corporation shares.
Dec. 31 This is the end of the fiscal year for Brownlee Corporation. On this date the Green
Corporation shares were worth 15.45 per share. 2018
$\text {Jan. } 27 \text { Brownlee Corporation sold } 500 \text { Green Corporation shares for } 17.50 \text { per share }$ Prepare journal entries for the above transactions.

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