Table 16-6
the Following Are Transactions in the Purchase and Sale

question 185

Essay

Table 16-6
The following are transactions in the purchase and sale of Epstein Ltd. shares by Monty Inc.
$$\begin{array} { l l } \text { January 15,2017 } & \text { Purchase 1,000 shares of Epstein at \$25.00 } \\\text { Febrary 10,2017 } & \text { Received \$1.00 dividend from Epstein } \\\text { December 31, 2017 } & \text { Epstein reported net income of \$10,000. } \\\text { December 31, 2017 } & \text { Market value of Epstein shares \$24.50. } \\\text { June 30, 2018 } & \text { Sold all shares of Epstein for \$26.50 per share }\end{array}$$ Record the journal entries for the above transactions for Monty Inc.
-Refer to Table 16-6.Assume that the investment in Epstein shares is classified as short-term investment by Monty and Monty has no significant influence over Epstein.

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Influenza

An extremely infectious virus that targets the respiratory tract, widely referred to as influenza.

Allergy

An immune system response to a foreign substance that's not typically harmful to the body.

Chronic Obstructive Pulmonary Disease

A group of lung diseases that block airflow and make it difficult to breathe, including emphysema and chronic bronchitis.

Circulatory

Related to the circulatory system, which involves the heart and blood vessels, responsible for transporting nutrients, gases, and waste products throughout the body.