Green Back Investments completed the following transactions during 2018: Click the icon to view the transactions.) Requirements 1. Journalize Green Back's transactions. Explanations are not required. 2. Classity and prepare partial financial statements for Green Back's 30% Phyflexon investment for the year ended December 31, 2018 Requirement 1. Journalize Green Back's transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from oumal 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 800 shares of Phyllexon stock, paying $46 per share. The investment represents 30% ownership in Phyflexor's voting stock and Green Back has significant influence over Phyflexon. Green Back intends to hold the investment for the indefinite future, Date Accounts Debit Credit Jan 14 Aug 22: Received a cash dividend of $0.49 per share on the Phyflexon stock Date Accounts Debit Credit Aug. 22 Green Back Investments completed the following transactions during 2018: (Click the icon to view the transactions.) Requirements 1. Journalize Green Back's transactions. Explanations are not required. 2. Classity and prepare partial financial statements for Green Back's 30% Phyflexon investment for the year ended December 31, 2018 Dec, 31: Phyflexon's current market value is $43 per share. Date Accounts Debit Credit Dec 31 Dec 31: Phyllexon reported net income of $350,000 for the year ended 2018. Date Accounts Debit Credit Dec 31 Green Back Investments completed the following transactions during 2018: (Click the icon to view the transactions.) Requirements 1. Joumalize Green Back's transactions. Explanations are not required. 2. Classify and prepare partial financial statements for Green Back's 30% Phyflexon investment for the year ended December 31, 2018 Requirement 2. Classify and prepare partial financial statements for Green Back's 30% Phyflexon Investment for the year ended December 31, 2018. Begin by showing the account and amount of any assets that would appear on Green Back's balance sheet as it relates to the Phyflexon investment at December 31, 2018. (if a box is not used in the financial statement, leave the box empty; do not select a label or enter a zero) Green Back Investments Balance Sheet (artial) December 31, 2018 Current Assets Long-term Assets Stockholders' Equity Accumulated Other Comprehensive Income Complete the partial income statement for the year ended December 31, 2018 as it relates to Green Back's Phyflexon investment. (Use a minus sign or parentheses to enter a loss. Ia box is not used in the financial statement, leave the box empty, do not select a label or enter a zero) Green Back Investments Income Statement (Partial) For the Year Ended December 31, 2018 Other Income and (Expenses) More Info x Purchased 800 shares of Phyflexon stock, paying $46 per share. The investment represe fits 30% ownership in Phyflexon's voting stock and Green Back has significant influence over Phyflexon. Green Back Jan. 14 intends to hold the investment for the indefinite future. Aug. 22 Received a cash dividend of $0.49 per share on the Phyflexon stock. Dec. 31 Phyflexon's current market value of $43 per share. Dec. 31 Phyflexon reported net income of $350,000 for the year ended 2018. C Print Done
