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Manchester Today Publishers completed the following investment transactions during 2018 and 2019: (Click the icon to view the transactions.) Requirements 1. Journalize Manchester Today's
Manchester Today Publishers completed the following investment transactions during 2018 and 2019: (Click the icon to view the transactions.) Requirements 1. Journalize Manchester Today's investment transactions. Explanations are not required. 2. On December 31, 2018, how would the Golden stock be classified and at what value would it be reported on the balance sheet? Requirement 1. Journalize Manchester's investment transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no entry is required, select "No entry required" on the first line of the Accounts column and leave the remaining cells blank.) Dec. 6, 2018: Purchased 1,000 shares of Golden stock at a price of $32.00 per share, intending to sell the investment next month. Manchester did not have significant influence over Golden. Date 2018 Dec. 6 Accounts Dec. 23, 2018: Received a cash dividend of $1.80 per share on the Golden stock. Date 2018 Dec. 23 Accounts Dec. 31, 2018: Adjusted the investment to its market value of $14.00 per share. Date 2018 Dec. 31 Accounts Jan. 27, 2019: Sold the Golden stock for $15.50 per share. Date 2019 Jan. 27 Accounts Debit Credit Debit Credit Debit Credit Debit Credit Requirement 2. On December 31, 2018, how would the Golden stock be classified and at what value would it be reported on the balance sheet? The Golden stock would be classified as a of on the December 31, 2018, balance sheet.
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