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Green back investments completed the following investment transaction during 2018: Jan. 14 Purchased 900 shares of Microscape stock, paying $57 per share. The investment represents
Green back investments completed the following investment transaction during 2018:
Jan. 14 Purchased 900 shares of Microscape stock, paying $57 per share. The investment represents 2% ownership in Microscape's voting stock. Green Back does not have significant influence over Microscape. Green Back intends to hold the investment for the indefinite future. Aug. 22 Received a cash dividend of $0.28 per share on the Microscape stock. Dec. 31 Adjusted the investment to its current market value of $55 per share. 31 Microscape reported net income of $400,000 for the year ended 2018. 1. Journalize Green Back's investment transactions. Explanations are not required. 2. Classify and prepare a partial balance sheet for Green Back's Microscape investment as of December 31, 2018. 3. Prepare a partial income statement for Green Back Investments for year ended December 31, 2018. Jan 14 Purchased 900 shares of Microeck, pay $57 The presents who in Microcapes voire lock lace des acte Microme Grace intend to the investment for the indir Da Accounts Deb Credit Jan 14 Aug 22 Recetat dividend of $0.20 per on the Mack Accounts Debit Dale Credit ALG Dec. 31: Adjusted the investment to its current market value of $55 per share. Date Accounts Debit Credit Dec. 31 Dec. 31: Microscape reported net income of $400,000 for the year ended 2018. Date Accounts Debit Credit Dec. 31 Requirement 2 Classify and prepare a partial balance sheet for Green Back's Microscape investment as of December 31, 2018 box empty, do not select a label or enter a zero.) Green Back Investments Balance Sheet (Partial) December 31, 2018 Current Assets Long-term Assets Stockholders' Equity Accumulated Other Comprehensive Income Stockholders' Equity Accumulated Other Comprehensive Income: Requirement 3. Prepare a partial income statement for Green Back Investments for year ended December 31, 2018 Green Back Investments Income Statement (Partial) For the Year Ended December 31, 2018 Other Income and (Expenses) Step by Step Solution
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