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Prepare journal entries to record the following transactions associated with at fair value through ...

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Prepare journal entries to record the following transactions associated with at fair value through ...

Prepare journal entries to record the following transactions associated with at fair value through other comprehensive income investments purchased by Spark Spread Corporation during 2015 Spark Spread Corporation had no investments prior to 2015.

a. Purchased 1,500 shares of Mercury Coal Corporation common shares for $27.50 per share.
b. Mercury Coal Corporation pays a $1.25 per share dividend to all common shareholders.
c. On December 31, 2015, the market price of Mercury Coal Corporation stock is $28.00 per share.

Textbook

Financial Accounting, Canadian Edition

Edition: 5^th

Authors: Harrison, Horngren, Thomas, Berberich, Seguin

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