## Answers

**Please mark the answer as helpful for the correct and quick answer, thanks !!**

1-Aug | Investment in shares - Dankin Corp | Dr | 5100 | |

Cash | Cr | 5100 | ||

( To record investment in shares) | ||||

1-Aug | Investment in shares -Ramon Co | Dr | 45700 | |

Cash | Cr | 45700 | ||

( To record investment in shares) | ||||

1-Sep | Cash | Dr | 600 | |

Dividend Income | Cr | 600 | ||

( To record cash dividend received for Dankin Corp @ $1 per share) | ||||

1-Sep | Cash | Dr | 7000 | |

Investment n shares - Ramon Co | Cr | 7000 | ||

( To record cash dividend received for Ramon Co @ $2 per share) | ||||

31-Dec | Cash | Dr | 2100 | |

Investment in shares - Ramon Co | Cr | 850 | ||

Income on sale of shares | Cr | 1250 | ||

( To record sale of 100 shares of Dankin Corp , cost = 5100/600*100) | ||||

31-Dec | Investment in shares - Ramon Co | Dr | 17500 | |

Equity Income - Ramon Co | Cr | 17500 | ||

( To record income 35% share of income in Ramon Co 50000 * 35%) |

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