Hilton Company completed these long-term available-for-sale investment transactions during 2016: 2016 Apr 10......Purchased 300 shares of Micros
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2016
Apr 10......Purchased 300 shares of Micros cape stock, paying $20 per share.
.............. Hilton company intends on hold the investment for the indefinite future.
Jul 22...... Received a cash dividend of $1.29 per share on the micros cape stock.
Dec 31.... Adjusted the Micros cape investment to its current market value of $5,800.
1. Journalize Hilton Company's investment transactions. Explanations are not required?
2. Assume the Microscape Co. stock is Hilton Company's only investment. Explain how these transactions will be reflected on Hilton Company's income statement and its statement of comprehensive income?
3. Show how to report the investment and any unrealized gain or loss on Hilton Company's balance sheet at December 31, 2016. Ignore income tax?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For 
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
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