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please ans this its urgent Water Way Company's Andrea Ward is pleased with the growth of the business and has decided to investits temporary excess
please ans this its urgent
Water Way Company's Andrea Ward is pleased with the growth of the business and has decided to investits temporary excess cash in a brokerage acount. The company had the following securities transactions in 2024 (Click the icon to view the securities Required Required Requirement 1. Joumalize the transactions ournal entry table. If no entry is required alculations based on the amount of time 31: Purchased 11,000 shares in Ashton mares for longer than a year and should red 1. Joumalize the transactions including any entries, if required, at December 31 2024 2. Determine the effect on Water Way Company's net income for the year for each of the three investments, Select the explanation on the last line of br cells blank. When prorating any nearest whole dollar.) pver Ashton Water Way plans to hold these Print Date Done Accou leased with the growth of the business and has decided to investits.temporary excess .cash in a brokerage More Info es tra s ind ed, ne ail Belect cells bl bearest Out) cord r Ashte unts Jul. 1 Purchased 11,000 shares in Ashton Outdoor Adventure Company for $8 per share. Water Way does not have significant influence over Ashton. Water Way plans to hold these shares for longer than a year and should record them in an account called Long-Term Investments. 7 Purchased 40 percent of the shares of Bethel Backpacks Inc. consisting of 44,000 shares (out of a total of 110,000 shares) for $3 per share. Water Way Company has significant influence over Bethel. 10 Purchased a bond at par from Casey Canoes with a face value of $75,000. Water Way intends to hold the bond to maturity. The bond pays interest semi-annually on June 30 and December 31. Ignore the 10 days of accrued interest. Sep. 30 Received dividends of $0.30 per share from Ashton. Nov. 1 Received dividends of $0.45 per share from Bethel. Dec. 31 Received an interest payment of $2,250 from Casey Canoes. 31 Bethel Backpacks reported net income of $42,000 for the year. 31 Adjusted the Ashton shares for a market value of $7.90 per share. fB share. Print Done in the input fields and then continue to the next Step by Step Solution
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