Table 16-6

the Following Are Transactions in the Purchase

question 124

Essay

Table 16-6

The following are transactions in the purchase and sale of Epstein Ltd. shares by Monty Inc.

$\begin{array}{ll}\hline \text { Januluary } 15,2017 & \text { Purchased 2,000 shares of Straton at } \$ 20.00 \text { and paid } \$ 125 \text { in brokerage fees } \\\text { February } 10,2017 & \text { Received } \$ 1.00 \text { dividend from Straton. } \\\text { December } 31,2017 & \text { Straton reported net income of } \$ 6,000 \text {. } \\\text { December 31, 2017 } & \text { Market value of Straton shares } \$ 22.00 . \\\text { June 30, 2018 } & \text { Sold all shares of Straton for } \$ 21.00 \text { per share. }\end{array}$
Record the journal entries for the above transactions for Samuels Inc.
$\begin{array}{ll}\text { January 15, 2017 } & \text { Purchase 1, 000 shares of Epstein at \$25.00 } \\\text { February 10, 2017 } & \text { Received \$1.00 dividend from Epstein } \\\text { December 31, 2017 } & \text { Epstein reported net income of \$10,000. } \\\text { December 31, 2017 } & \text { Market value of Epstein shares \$24.50. } \\\text { June 30, 2018 } & \text { Sold all shares of Epstein for \$26.50 per share. }\end{array}$
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 a long-term investment.Monty exercises significant influence over Epstein by owning 25% of the outstanding shares.Assume that Epstein earned no income from January 1,2018 to June 30,2018,nor did it pay any dividends during that period.

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Definitions:

Extrinsic Motivation

Type of motivation in which a person performs an action because it leads to an outcome that is separate from or external to the person.

Mastery Goal

An objective oriented toward learning, understanding, and mastering a task or subject, rather than simply achieving a good grade or outperforming others.

Eating Habits

Patterns or routines of eating, including what, when, and how much one eats.

Reduce Depression

Strategies or practices aimed at decreasing the severity of depressive symptoms, including therapy, medication, lifestyle changes, and mindfulness techniques.