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Blue Spruce Corporation had the following portfolio of investm December 31,2023, that qualified and were accounted for Quantity Percentage Interest Cost per Fair Value
Blue Spruce Corporation had the following portfolio of investm December 31,2023, that qualified and were accounted for Quantity Percentage Interest Cost per Fair Value Share per Share Frank Inc 1,900 shares 518 . Ellis Corp. 4800 21 17 4.100 shares Early in 2024, Blue Spruce sold all the Frank shares for $17 per share, less a 1 insists of the following common shares- on the sale. On December Quantity Percentage Interest Fair Value per Share EsCorp. Mendota Ltd 4800 shares 526 4.100 shares Assume that Blue Spruce reports net income of $145.100 tories year ended December 31 2034 and that the company follows a policy of capitalizing transaction costs, Realized cains and losses on ec, ty investifients are reclassified from accurrsitated other comp ncome directly What should be reported on Blue Spruce's 2004 statement of comprehensive income for the investments accounted for using the FV-OCI model? Prepare a partial 2024 statement of comprehensive income for Blue Spruce and provide an entry for classifying holding gains or losses to Retained Earnings on equity investments sold during 2024. (Enter negative amounts using either a negative sign preceding the number eg-45 or parentheses e. 145. Credit account titles are automatically indented when the amount is entered. Do not indent manually if no entry is required, select "his Enery" for the account titles and enter O for the amounts. List debit entry before credit entry Blue Spruce Corporation Statement of Comprehensive Income Account Titles and Explanation Debit Credit
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