{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T21:01:36-04:00", "answer_date": "2024-05-26 21:01:36", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1759312", "url": "\/study-help\/questions\/london-ltd-reported-the-following-transactions-and-information-regarding-the-1759312", "question_creation_date_js": "2024-05-26T21:01:36-04:00", "question_creation_date": "May 26, 2024 09:01 PM", "meta_title": "[Solved] London Ltd. reported the following transa | SolutionInn", "meta_description": "Answer of - London Ltd. reported the following transactions and information regarding the shares of Dolma Corp: 15 October 20X2, p | SolutionInn", "meta_keywords": "london,ltd,reported,transactions,information,shares,dolma,corp,15,october,20x2,purchased", "question_title_h1": " London Ltd. reported the following transactions and information regarding the shares of Dolma Corp: 15 October 20X2, purchased 4,800 shares at $45 per share", "question_title": " London Ltd. reported the following transactions and information regarding the shares", "question_title_for_js_snippet": "London Ltd reported the following transactions and information regarding the shares of Dolma Corp 15 October 20X2, purchased 4,800 shares at $45 per share plus $1,800 commission 1 December 20X2, received $0 50 per share cash dividend 31 December 20X2, fair value is $40 per share 1 December 20X3, received $0 50 per share cash dividend 31 December 20X3, fair value is $48 per share 15 November 20X4, sold 1,600 shares at $45 per share less $760 commission 1 December 20X4, received $0 50 per share cash dividend 31 December 20X4, fair value is $44 per share Required 1 Show the amounts and accounts that would be reported in earnings and the statement of financial position for 20X2, 20X3, and 20X4 if the company uses the (Negative amounts should be indicated by minus sign ) a Cost method Earnings Dividend revenue Fees and commissions expense Loss on sale Statement of financial position Investment OCI Holding gain (loss) b FVTPL method Earnings Dividend revenue Fees and commissions expense Holding gains (losses) Statement of financial position Investment OCI Holding gain (loss) 20X2 20X3 20X4 20X2 20X3 20X4", "question_description": "\"image\"image", "transcribed_text": "London Ltd. reported the following transactions and information regarding the shares of Dolma Corp: 15 October 20X2, purchased 4,800 shares at $45 per share plus $1,800 commission. 1 December 20X2, received $0.50 per share cash dividend. 31 December 20X2, fair value is $40 per share. 1 December 20X3, received $0.50 per share cash dividend. 31 December 20X3, fair value is $48 per share. 15 November 20X4, sold 1,600 shares at $45 per share less $760 commission. 1 December 20X4, received $0.50 per share cash dividend. 31 December 20X4, fair value is $44 per share. Required: 1. Show the amounts and accounts that would be reported in earnings and the statement of financial position for 20X2, 20X3, and 20X4 if the company uses the: (Negative amounts should be indicated by minus sign.) a. Cost method. Earnings Dividend revenue Fees and commissions expense Loss on sale Statement of financial position Investment OCI: Holding gain\/(loss) b. FVTPL method. Earnings Dividend revenue Fees and commissions expense Holding gains (losses) Statement of financial position Investment OCI: Holding gain\/(loss) 20X2 20X3 20X4 20X2 20X3 20X4", "related_book": { "title": "Core Concepts Of Accounting Information Systems", "isbn": "9780470507025, 0470507020", "edition": "11th Edition", "authors": "Nancy A. Bagranoff, Mark G. Simkin, Carolyn Strand Norman", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/102.jpg", "uri": "\/textbooks\/core-concepts-of-accounting-information-systems-11th-edition-9780470507025", "see_more_uri": "" }, "free_related_book": { "isbn": "1685798462", "uri": "\/textbooks\/heaven-official-s-blessing-tian-guan-ci-fu-vol-8-978-1685798468-131344", "name": "Heaven Official S Blessing Tian Guan Ci Fu Vol 8", "edition": "" }, "question_posted": "2024-05-26 21:01:36", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/the-following-condensed-balance-sheet-is-for-the-partnership-of-238527", "description": "The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses in the ratio of 6:2:2, respectively: For how much money must the other assets...", "stars": 3 }, { "url": "\/an-employee-of-olentangy-foundry-inc-worked-a-normal-40", "description": "An employee of Olentangy Foundry, Inc. worked a normal 40- hour shift, but four hours were idle due to a small fire in the plant. 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