Question

On January 1, 2015 ACME Company made the following purchases of stock investments 100 of the...

On January 1, 2015 ACME Company made the following purchases of stock investments
100 of the 100,000 shares of AJAX Company for $5000. ACME accounts for this investment as a trading security
1000 of the 4000 shares of FIDO Company for $50,000 the CEO of ACME now sits on the board of directors of FIDO
1-Mar-15 AJAX declared and paid a $2 per share dividend
FIDO declared and paid a $3 per share dividend
December 31, 2015   AJAX stock is selling for $52 per share; AJAX reports income for 2015 of $600,000
FIDO stock is selling for $45 per share; FIDO reports income for 2015 of $45,000
March 1 2016 AJAX declared and paid a $1 per share dividend
FIDO announced that it would not pay any dividends in 2016
31-Dec-16 AJAX stock is selling for $49 per share; AJAX reports a loss of $100,000
FIDO stock is selling for $51 per share; FIDO reports a loss for 2016 of $12,000
2-Jan-17 ACME sells its entire investment in AJAX for $4950
ACME sells its entire investment in FIDO for $50500
REQUIRED:   MAKE ALL THE NECESSARY JOURNAL ENTRIES FOR ACME IN
2015
2016
2017
BEGINNING WITH THE PURCHASE OF THE STOCK IN AJAX AND FIDO  
Business   Accounting   
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Journal entries for 2016:

Journal entries for 2017:

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