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need types answer please Because of a change in relationship with Ahn Inc., Blue Spruce Inc sold its investment in Ahn for $153,200 on January
need types answer please
Because of a change in relationship with Ahn Inc., Blue Spruce Inc sold its investment in Ahn for $153,200 on January 20 , 2021. No other investments were acquired or sold during 2021; however, a dividend of $1,300 was received from Burnham Corp. in June. At December 31, 2021, the fair values of Burnham and Chi shares were $155,100 and $72,300, respectively. Prepare the entry to adjust the portfolio of investments to fair value at December 31,2020 . (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts.) Prepare the presentation of all imvestment-related accounts on the statement of financial position at December 31,2020 . (Enter negative amounts using elther a negative sign preceding the number eg. 2,945 or parentheses e.8. (2,945). Indicate what accounts and amounts would be reported on the statement of comprehensive income for the year ended December 31,2020 , and where each would be reported. (Enter negative amounts using either a negative sign preceding the number eg. - 2,945 or parentheses eg. (2,945). ) Prepare the journal entries for the 2021 sale of the investment in Ahn Inc., including reclassifying holding gains or losses to retained earnings and for the dividend received from Burnham Corp. (Credit account tittes are automatically indented when the amount is entered. Do not indent monually. If no entry is required, select "No Entry" for the account tities and enter of for the amcunts) eTextbook and Media List of Accounts Prepare the journal entry required at December 31, 2021, to adjust the investments to fair value. (Credit account tities are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amounts.) Because of a change in relationship with Ahn Inc., Blue Spruce Inc sold its investment in Ahn for $153,200 on January 20 , 2021. No other investments were acquired or sold during 2021; however, a dividend of $1,300 was received from Burnham Corp. in June. At December 31, 2021, the fair values of Burnham and Chi shares were $155,100 and $72,300, respectively. Prepare the entry to adjust the portfolio of investments to fair value at December 31,2020 . (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts.) Prepare the presentation of all imvestment-related accounts on the statement of financial position at December 31,2020 . (Enter negative amounts using elther a negative sign preceding the number eg. 2,945 or parentheses e.8. (2,945). Indicate what accounts and amounts would be reported on the statement of comprehensive income for the year ended December 31,2020 , and where each would be reported. (Enter negative amounts using either a negative sign preceding the number eg. - 2,945 or parentheses eg. (2,945). ) Prepare the journal entries for the 2021 sale of the investment in Ahn Inc., including reclassifying holding gains or losses to retained earnings and for the dividend received from Burnham Corp. (Credit account tittes are automatically indented when the amount is entered. Do not indent monually. If no entry is required, select "No Entry" for the account tities and enter of for the amcunts) eTextbook and Media List of Accounts Prepare the journal entry required at December 31, 2021, to adjust the investments to fair value. (Credit account tities are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amounts.)Step by Step Solution
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