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Kendall Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April
Kendall Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence.
April 16 | Purchased 5,000 shares of Homer Company stock at $30 per share. |
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July 7 | Purchased 3,500 shares of STM Company stock at $55 per share. |
July 20 | Purchased 1,600 shares of RTO Company stock at $22 per share. |
August 15 | Received an $1.20 per share cash dividend on the Homer Company stock. |
August 28 | Sold 3,000 shares of Homer Company stock at $33 per share. |
October 1 | Received a $5.30 per share cash dividend on the STM Company shares. |
December 15 | Received a $1.40 per share cash dividend on the remaining Homer Company shares. |
December 31 | Received a $4.70 per share cash dividend on the STM Company shares. |
I have figured out the general journal, general ledger, and fair value adj (which is 8050 unrealized loss). However, I'm stumped on these last two things
For each transaction, indicate the change, if any, in total assets and total equity. If equity changes, indicate whether the change was reflected as a component of net income, or directly within the stockholders' equity portion of the balance sheet. Remember that the change in total assets must agree with the change in total equity. Prove the accuracy of your responses on the Transaction Analysis tab by selecting the account titles reported on the income statement or as a component of stockholders' equityStep by Step Solution
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