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On April 1 2024 Ivanhoe Company purchased 41600 common sh.pdf

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On April 1, 2024, Ivanhoe Company purchased 41,600 common shares in Ecotown Ltd. for $15 per share. Management has designated the investment as FVTOCI. On December 5, Ecotown paid dividends of $0.10 per share and its shares were trading at $17 per share on December 31. The imvestment in Ecotown's common shares is sold on January 15, 2025, for $717,600, luanhoe has a December 31 year end Prepare the journal entry to record the sale of the investment. (Credlt occount tities are cutomotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter of for the amounts. List all debit entries before credit entries).

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On April 1, 2024, Ivanhoe Company purchased 41,600 common shares in Ecotown Ltd. for $15 per share. Management has designated the investment as FVTOCI. On December 5, Ecotown paid dividends of $0.10 per share and its shares were trading at $17 per share on December 31. The imvestment in Ecotown's common shares is sold on January 15, 2025, for $717,600, luanhoe has a December 31 year end Prepare the journal entry to record the sale of the investment. (Credlt occount tities are cutomotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter of for the amounts. List all debit entries before credit entries)

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  • 1. On April 1, 2024, Ivanhoe Company purchased 41,600 common shares in Ecotown Ltd. for $15 per share. Management has designated the investment as FVTOCI. On December 5, Ecotown paid dividends of $0.10 per share and its shares were trading at $17 per share on December 31. The imvestment in Ecotown's common shares is sold on January 15, 2025, for $717,600, luanhoe has a December 31 year end Prepare the journal entry to record the sale of the investment. (Credlt occount tities are cutomotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter of for the amounts. List all debit entries before credit entries)