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Creative Investments completed the following investment transactions during 2018: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Creative's investment transactions.
Creative Investments completed the following investment transactions during 2018: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Creative'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 400 shares of Tycon stock, paying $47 per share. The investment represents 2% ownership in Tycon's voting stock. Creative does not have significant influence over Tycon. Creative intends to hold the investment for the indefinite future. Date Accounts Debit Credit Jan. 14 i Requirements Aug. 22: Received a cash dividend of $0.52 per share on the Tycon stock. 1. Journalize Creative's investment transactions. Explanations are not required. 2. Classify and prepare a partial balance sheet for Creative's Tycon investment as of December 31, 2018. 3. Prepare a partial income statement for Creative Investments for year ended December 31, 2018. Date Accounts Debit Credit Aug. 22 Print Done Requirement 2. Classify and prepare a partial balance sheet for Creative's Tycon investment as of December 31, 2018. (Use a minus sign or 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.) Creative Investments Balance Sheet (Partial) December 31, 2018 Current Assets: Long-term Assets: Stockholders' Equity Accumulated Other Comprehensive Income: Requirement 3. Prepare a partial income statement for Creative Investments for year ended December 31, 2018. (Use a minus sign or parentheses to enter a loss.) Creative Investments Income Statement (Partial) For the Year Ended December 31, 2018 Other Income and (Expenses)
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