BUSI 2160U Lecture Notes - Lecture 11: Rogers Communications, Net Income
Document Summary
Summer inc. (summer) a publicly traded company, had a very successful 2015 year generating ,000 of excess cash to make two investments. The share represents a 25% ownership in the company. Under the ifrs how would you classify each of the investments? b. ) Prepare the journal entries to record the two investments? c. ) on december 31, 2015 rogers reported a net income of mm and declared dividends of. sh. 25 per share; shares in rogers were now trading for /share. Income of ,000 and declared a total of in dividends. Prepare the journal entry to record each entry. d. ) in late march 2016 summer received two cheques, one from rogers for and one from new. Prepare the journal entries to record these transactions. Right away we notice this is a passive investment. *make sure differentiate between investment revenue and investment asset!! *use investment accounting slides to understand what parts involves journal entries.
