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14-06-2024
Business

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On January 1, 2025, Beetle Company invests $15,000 in Reggae, Inc. stock. Reggae, Inc. pays Beetle Company a $500 dividend on August 1, 2025. Beetle Company sells the Reggae, Inc.'s stock on August 31, 2025, for $15,100. Assume the investment is categorized as a short-term equity investment and Beetle Company does not have significant influence over Reggae, Inc. Requirements 1. Journalize the transactions for Beetle Company's investment in Reggae, Inc.'s stock. 2. What was the net effect of the investment on Beetle Company's net income for the year ended December 31, 2025

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