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Captain Investments completed the following investment transactions during 2018: Click the icon to view the transactions.) Read the requirements Requirement 1. Journalize Captain's investment transactions.
Captain Investments completed the following investment transactions during 2018: Click the icon to view the transactions.) Read the requirements Requirement 1. Journalize Captain'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.) Jan 14: Purchased 200 shares of Volfexor stock, paying $55 per sharo. The investment represents 3% ownership in Voltexar's voting stock Captain does not have significant influence over Voltexar, Captain intends to hold the investment for the indefinite future. Accounts Debit Credit Jan. 14 Date Aug 22: Received a cash dividend of $0.55 per share on the Voltexar stock. Date Accounts Debit Credit Aug. 22 Captain Investments completed the following investment transactions during 2018: Click the icon to view the transactions.) Read the requirements Dec. 31: Adjusted the investment to its current market value of $51 per share. Date Accounts Debit Credit Doo: 31 Dec. 31: Voltexar reported net income of $500,000 for the year ended 2018, Date Accounts Debit Credit LUCU Dec 31 a Captain Investments completed the following investment transactions during 2018: Click the icon to view the transactions.) Read the requirements Requirement 2. Classify and prepare a partial balance sheet for Captain's Voltexar investment as of December 31, 2018. (Use a minus sign on parentheses to enter a loss. If a box is not used in the balance sheet, leave the box empty, do not select a label or enter a zero) Captain Investments Balance Sheet (Partial) December 31, 2018 Current Assets Long-term Assets Stockholders' Equity Accumulated Other Comprehensive Income: ata rs Requirement 3. Prepare a partial income statement for Captain Investments for year ended December 31, 2018. (Use a minus sign or parenthesesct to enter a loss.) Captain Investments Income Statement (Partial) For the Year Ended December 31, 2018 Other Income and (Expenses) U C More Info Purchased 200 shares of Voltexar stock, paying $55 per share. The investment represents 3% ownership in Voltexar's voting stock. Captain does not have significant influence over Voltexar. Captain intends to hold the Jan. 14 investment for the indefinite future. Aug. 22 Received a cash dividend of $0.55 per share on the Voltexar stock. Dec. 31 Adjusted the investment to its current market value of $51 per share. Dec. 31 Voltexar reported net income of $500,000 for the year ended 2018. Print Done
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