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Branson Today Publishers completed the following investment transactions during 2018 and 2019 (Click the icon to view the transactions.) Requirements 1. Journalize Branson Today's investment
Branson Today Publishers completed the following investment transactions during 2018 and 2019 (Click the icon to view the transactions.) Requirements 1. Journalize Branson Today's investment transactions. Explanations are not required 2. On December 31, 2018, how would the Fully stock be classified and at what value would it be reported on the balance shee Dec. 31, 2018: Adjusted the investment to its market value of $12.00 per share Date 2018 Accounts Debit Credit Dec 31 Unrealized Holding Loss-Equity Investments Fair Value Adjustment--Equity Investments 11,400 11,400 Jan 27, 2018 Sold the Fully stock for $21.80 per share Date 2019 Jan 27 modocs example Get more help. # 3 x 90 F H $ 54 Accounts 95 % FR Debit Credit MacBook Air A 6 <1 e r t y 7 & 90 teil " 16 u 88> 61 D F G H J K C V B N M More info Dec. 6, 2018 Dec. 23, 2018 Dec. 31, 2018 Jan. 27, 2019 Purchased 950 shares of Fully stock at a price of $24.00 per share, intending to sell the investment next month. Branson did not have significant influence over Fully. Received a cash dividend of $1.30 per share on the Fully stock. Adjusted the investment to its market value of $12.00 per share. Sold the Fully stock for $21.80 per share. - Requirement 1. Journalize Branson's investment transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries: If no entry is required. select "No entry required" on the first line of the Accounts column and leave the remaining cells blank.) Dec. 6, 2018: Purchased 950 shares of Fully stock at a price of $24.00 per share, intending to sell the investment next month. Branson did not have significant influence over Fully Date 2018 Dec 6 Equity Investments-Fully Cash Accounts Dec. 23, 2018: Received a cash dividend of $1.30 per share on the Fully stock Date 2018 Dec. 23 Cash Dividend Revenue Accounts Debit Credit 22.800 22,000 Debit Credit 1,235 1,235 Dec. 31, 2018: Adjusted the investment to its market value of $12.00 per share. Date 2018 Dec. 31 Accounts Unrealized Holding Loss-Equity Investments Fair Value Adjustment-Equity Investments Jan. 27, 2019: Sold the Fully stock for $21.80 per share. Date 2019 Jan. 27 Accounts Debit Credit 11,400 11,400 Debit Credit
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