Accounting Method Requirement 1. Identify the appropriate accounting method for each of the folowing situations: Situation Investment in 35% of the investee company's stock of which the investor has significant a. Influence b. Available for sale debt investment c. Investment in more than 50% of the investee company's stock Bond Investment that matures in ten years. The investor plans to hold the bond for the full ten d. years Requirement 2. At what amount should the following trading investment portfolio be reported on the December 31, 2018, balance sheet? Journaize any adjusting entry required on December 31. M(Click the icon to review the trading investment portfolio) On the December 31, 2018 balance sheet, the total trading investment portfolio should be reported at Journalize any adjusting entry required on December 31. (Record debits first, then credits Sclect the explanation on the last line of the journal cntry table. If no cntry is required, Sclect "No entry required" on the first line of the Accounts and Explanations column and leave the remaining cells blank. Date Accounts and Explanations Debit Credit 2018 Dec. 31 Requirement 3. An investor paid 571,400 on January 1, 2018, lo sccuire -45% of Fish - Man, Inc. outsanding common slock. The investor had significant control of Fish - Man, Inc. For the year endind December 31, 2018. Fish - Mari's net income was 5130,000, and on June 14, the company declared and paid cash dividends of $5,000 to al stockholders. Journalize the investor's transactions related to the Fish - Man investment: (a) purchase of the investment, b) receipt of dividende, (e) investor's share of net income, and ( sale of Fish - Man stock for $130,550 on January 3, 2018. (Record debits first, then crecits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanations column and leave the remaining cells blank.) (a) Bogin by Journalizing the investor's purchase of the Fish - Man Investment. An investor paid $71,400 on January 1, 2018, to acquire 46% of Fish - Man, Inc.'s outstanding common stock. Date Accounts and Explanations | Debit Credit 2018 i Requirements (a) Jan 1 b) Journalize the receipt of dividends. On June 14, Fish - Man declared and paid cash dividends of $5,000 ta al stockholders Date Accounts and Explanations | Debit Credit 2018 Idently the appropriate accounting method for each of the following situations: a. Investment in 35% of the investee company's stock of which the investor has significant influence b. Available for sale debt investment c. Investment in more than 50% of the investee company's stock d. Bond investment that matures in ten years. The investor plans to hold the band for the full ten years. 2. At what amount should the following trading debt investment portfolio be reported on the December 31, 2018, balance sheet? b n 14 c) Joumalize the investor's share of net income During the first year Fish - Man's net income was 5130 000 Date Accounts and Explanations Debit Credit Bond Investment Cost Current Market Value Pink $ 2.000 $ 2,400 Gold 58 400 49,900 3.560 Raven 8,380 6.3.960 Totals 58,660 Joumalize any adjusting entry required on December 31 3. An investor paid $71.400 on January 1, 2018, to acquire 45% of Fish - Man, Inc.'s outstanding common stock The investor had significant control of Fish - Man, Inc. For the year ending December 31, 2018, Fish - Man's net income was $130,000, and on June 14, the company declared and paid cash dividends of 55,000 ta al stockholders. Joumalize the investor's transactions related to the Fish - Man Investment (a) purchase of the Investment, (b) receipt of dividends, Ic) Investor's share of net income, and (d) sale of Fish - Man stock for $130,660 on January 3, 2019. 2018 (c) Dec 31 Print Done (d) Journalize the sale of Fish - Man slock for $130,550 on January 3, 2018 Date Accounts and Explanations 2019 Debit Credit d) Jan 3 Accounting Method Requirement 1. Identify the appropriate accounting method for each of the folowing situations: Situation Investment in 35% of the investee company's stock of which the investor has significant a. Influence b. Available for sale debt investment c. Investment in more than 50% of the investee company's stock Bond Investment that matures in ten years. The investor plans to hold the bond for the full ten d. years Requirement 2. At what amount should the following trading investment portfolio be reported on the December 31, 2018, balance sheet? Journaize any adjusting entry required on December 31. M(Click the icon to review the trading investment portfolio) On the December 31, 2018 balance sheet, the total trading investment portfolio should be reported at Journalize any adjusting entry required on December 31. (Record debits first, then credits Sclect the explanation on the last line of the journal cntry table. If no cntry is required, Sclect "No entry required" on the first line of the Accounts and Explanations column and leave the remaining cells blank. Date Accounts and Explanations Debit Credit 2018 Dec. 31 Requirement 3. An investor paid 571,400 on January 1, 2018, lo sccuire -45% of Fish - Man, Inc. outsanding common slock. The investor had significant control of Fish - Man, Inc. For the year endind December 31, 2018. Fish - Mari's net income was 5130,000, and on June 14, the company declared and paid cash dividends of $5,000 to al stockholders. Journalize the investor's transactions related to the Fish - Man investment: (a) purchase of the investment, b) receipt of dividende, (e) investor's share of net income, and ( sale of Fish - Man stock for $130,550 on January 3, 2018. (Record debits first, then crecits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanations column and leave the remaining cells blank.) (a) Bogin by Journalizing the investor's purchase of the Fish - Man Investment. An investor paid $71,400 on January 1, 2018, to acquire 46% of Fish - Man, Inc.'s outstanding common stock. Date Accounts and Explanations | Debit Credit 2018 i Requirements (a) Jan 1 b) Journalize the receipt of dividends. On June 14, Fish - Man declared and paid cash dividends of $5,000 ta al stockholders Date Accounts and Explanations | Debit Credit 2018 Idently the appropriate accounting method for each of the following situations: a. Investment in 35% of the investee company's stock of which the investor has significant influence b. Available for sale debt investment c. Investment in more than 50% of the investee company's stock d. Bond investment that matures in ten years. The investor plans to hold the band for the full ten years. 2. At what amount should the following trading debt investment portfolio be reported on the December 31, 2018, balance sheet? b n 14 c) Joumalize the investor's share of net income During the first year Fish - Man's net income was 5130 000 Date Accounts and Explanations Debit Credit Bond Investment Cost Current Market Value Pink $ 2.000 $ 2,400 Gold 58 400 49,900 3.560 Raven 8,380 6.3.960 Totals 58,660 Joumalize any adjusting entry required on December 31 3. An investor paid $71.400 on January 1, 2018, to acquire 45% of Fish - Man, Inc.'s outstanding common stock The investor had significant control of Fish - Man, Inc. For the year ending December 31, 2018, Fish - Man's net income was $130,000, and on June 14, the company declared and paid cash dividends of 55,000 ta al stockholders. Joumalize the investor's transactions related to the Fish - Man Investment (a) purchase of the Investment, (b) receipt of dividends, Ic) Investor's share of net income, and (d) sale of Fish - Man stock for $130,660 on January 3, 2019. 2018 (c) Dec 31 Print Done (d) Journalize the sale of Fish - Man slock for $130,550 on January 3, 2018 Date Accounts and Explanations 2019 Debit Credit d) Jan 3
