MAKE SURE TO COMPLETE ALL JOURNAL TRANSACTIONS AND REQUIREMENTS

The beginning balance sheet of Water Source Co. included a $700,000 investment in Andy stock (20% ownership, Water has significant influence over Andy). During the year, Water Source completed the following transactions:

The beginning balance sheet of Water Source Co. included a $700,000 investment in Andy stock (20% ownership, Waler has significant influence over Andy) During the year, Waler Source compleled the following investment transactions Click the icon to view the transactions.) Read the reguirements Requirement 1. Journalize the transactions for the year of Water Source. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required en the first line of the Accounts and Explanstion column and leave the remaining cells blank. Mar 3 Purchased 3,000 shares at S9 per share of Lisa Scftware common stock as a long-term squity investment, representing 5% ownership, no signficant infuence Date Accounts and Explanation Debit Credit Mar 2 Requirements 1. Journalize the transactions for the year of Water Source. 2. Post transactions to T-accounts to determine the December 31, 2018, balances related to the investment and investment income accounts. 3. Prepare Water Source's partial balance sheet at December 31, 2018, from your answers in Requirement 2 4. Where is the unrealized holding gain or loss associated with the Lisa stock reported? Print Done X More Info Mar. 3 Purchased 3,000 shares at $9 per share of Lisa Software common stock as a long-term equity investment, representing 5 % ownership, no significant influence. Received a cash dividend of $0.75 per share on the Lisa investment. Received a cash dividend of $40,000 from Andy investment. Received Andy's annual report showing $100,000 of net income. Received Lisa's annual report showing $300,000 of net income for the year. Andy's stock fair value at year-end was $680,000 Lisa's common stock fair value at year-end was $12 per share. May Dec. 15 15 31 31 31 31 Print Done