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During January 2023 , Pentagon Company purchased the following securities for its long-term investment portfolio: - Square Company common stock: 13,080 shares (218,000 outstanding) at
During January 2023 , Pentagon Company purchased the following securities for its long-term investment portfolio: - Square Company common stock: 13,080 shares (218,000 outstanding) at $25 per share - Rectangle Corporation bonds: $218,000 (10-year, 5 percent) purchased at par (not to be held to maturity or actively traded) All companies have a December 31 year-end. Subsequent to acquisition, the following data were available: 3-a. For each year, show how long-term investments should be reported on the financial statements: 3-b. For each year, show how other comprehensive income for unrealized gains/losses should be reported on the financial statemer 3-c. For each year, show how revenues and gains/losses should be reported on the financial statements: Complete this question by entering your answers in the tabs below. For each year, show how long-term investments should be reported on the financial statements. 3-a. For each year, show how long-term investments should be reported on the financial statements: 3-b. For each year, show how other comprehensive income for unrealized gains/losses should be reported on the financial staten 3-c. For each year, show how revenues and gains/losses should be reported on the financial statements: Complete this question by entering your answers in the tabs below. For each year, show how other comprehensive income for unrealized gains/losses should be reported on the financial statements. Note: Amounts to be deducted should be indicated by a minus sign. 3-a. For each year, show how long-term investments should be reported on the financial statements: 3-b. For each year, show how other comprehensive income for unrealized gains/losses should be reported on the financial statements: 3-c. For each year, show how revenues and gains/losses should be reported on the financial statements: Complete this question by entering your answers in the tabs below. For each year, show how revenues and gains/losses should be reported on the financial statements. Note: Amounts to be deducted should be indicated by a minus sign
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