Write the journal entries for the year ended december

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Reference no: EM131891460

Problem

On June 30, 20x2, Mcdonalds purchased $130,000 of the shares of Wendy's. DUring the year Mcdonalds received $3,00 of dividends of Wendy's. At December 31, 20x2, the shares of Wendy's had a fair value of $110,00.

Assume that Mcdonalds classifies thte investment as FVTPL. Write the hournal entries for the year ended December 31.

Assume that Mcdonalds classifies the investment as FVTOCI - write the journal entries for the year ended December 31, 20x2.

- Assume that Mcdonalds net income for the year ended December 31,20x2 is $460m00. Prepare the bottom portion of the statement of comprehensive income starting with the line "Net income"

Reference no: EM131891460

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