Chart of Accounts Journal Final Questions Instructions On January 6, 20Y8, Bulldog Co. purchased 34% of the outstanding common stock of Gator Co. for $180,300. Gator Co. paid total dividends of $20,100 to all shareholders on June 30, 20Y8. Gator had a net loss of $54,700 for 20Y8 Required: a. Journalize Bulldog's purchase of the stock, receipt of the dividends, and the adjusting entry for the equity loss in Gator Co stock Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered b. Compute the balance of Investment in Gator Co. Stock on December 31, 20Y8 c. How does valuing an investment under the equity method differ from valuing an investment at fair value? Chart of Accounts CHART OF ACCOUNTS Bulldog Co. General Ledger ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 121 Allowance for Doubtful Accounts 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance REVENUE 410 Sales 611 Interest Revenue 612 Dividend Revenue 621 Income of Gator Co. 631 Gain on Sale of Investments 641 Unrealized Gain on Trading Investments EXPENSES 511 Cost of Merchandise Sold 512 Bad Debt Expense Chart of Accounts The City Supplies 146 Store Supplies 151 Prepaid Insurance 161 Investment in Gator Co. Stock 165 Valuation Allowance for Trading Investments 166 Valuation Allowance for Available-for-Sale Investments. 181 Land 191 Store Equipment 511 Cost of Merchandise Sold 512 Bad Debt Expense 515 Credit Card Expense. 516 Cash Short and Over 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 192 Accumulated Depreciation-Store Equipment 533 Repairs Expense 193 Office Equipment 194 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 231 Interest Payable 534 Selling Expenses 535 Rent Expense 536 Insurance Expense 537 Office Supplies Expense 538 Store Supplies Expense 561 Depreciation Expense-Store Equipment 562 Depreciation Expense-Office Equipment