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Ebooks - Webreader.io Document Ch.15 QUE CungagNOW Aaigmenta ook Show Me How Equity Investments: Less than 20% Ownership Instructions Chart of Accounts Journal Instructions On January 23, 15,000 shares of Aurora Company's common stock are acquired at a price of $25 per share plus a $145 brokerage commission. On Apel 12.50.30 per share vicend was received on the Aurora Company stock. On June 10,6,200 shares of the Aurora Company stock were sold for $34 per share low a $130 brokerage commission. At the end of the accounting period on December 31, the fair value of the remaining 8,800 shares of Aurora Company's stock was $33 per thuro Aurora Company has 210.000 shares of common work outstanding Required: Journalize the entries for the original purchase, dividend, sale, and change in fair value under the far value method Refer to the charter accounts for the exact wording of the account titles. CNOW Joumais do not use lines for ouma explanations. Every line on a journal page and for debitor credit entries. CNOW journals will automatically indent a credit evitry when a credit amount is exterest When required, round your answers to the nearest dollar reader.io Ch. 15 Quiz CengageNOWV21 Assignments View Show Me How ments: Less than 20% Ownership sChart of Accounts Journal Chart of Accounts CHART OF ACCOUNTS Aurora Company er General Ledger ASSETS REVENUE 110 Cash 410 Sales 611 Interest Revenue 612 Dividend Revenue 621 Income of Aurora Company 631 Gain on Sale of investments 641 Unrealized Gain on Equity Investments 111 Petty Cash 120 Accounts Receivable 121 Allowance for Doubtful Accounts 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 161 Investments-Aurora Company Stock 165 Valuation Allowance for Equity Investments 186 Valuation Allowance for Available-for-Sale Investments 181 Land 193 Office Equipment 194 Accumulated Depreciation-Office Equipment EXPENSES 511 Cost of Merchandise Sold 512 Bad Debt Expense 516 Cash Short and Over 520 Salaries Expense 535 Advertising Expense 534 Sling Expert 535 Rent Expense 537 Office Suspense LIABILITIES 210 Accounts Payable 221 Notes Pavable Ch. 15 Quiz CengageNOWV2 | Assignments View Show Me How Less than 20% Ownership art of Accounts Journal of Accounts 166 Valuation Allowance for Available for Sale Investments 516 Cash Short and Over 181 Land 193 Office Equipment 194 Accumulated Depreciation Office Equipment LIABILITIES 520 Salaries Expense 531 Advertising Expense 534 Selling Expenses 535 Rent Expense 537 Office Supplies Expense 562 Depreciation Expense-Office Equipment 590 Miscellaneous Expense 710 Interest Expense 721 Loss of Aurora Company 731 Loss on Sale of investments 741 Unrealized Loss on Equity Investments 210 Accounts Payable 221 Notes Payable 231 Interest Payable 241 Salaries Payable EQUITY 311 Common Stock 312 Pald-In Capital in Excess of Par-Common Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Treasury Stock 332 Paid In Capital from Sale of Treasury Stock 340 Retained Earnings 350 Unrealized Gain (Low) on Avaliable for Sale investments 351 Cash Dividends 352 Stock Dividends Book Show Me How mens VW Chart of Accounts Instructions Journal Journalize the entries for the original purchase, dividend, sale, and change in fair value under the fair value method. Refer to the chart of accounts for the stact wording of the account the CNOW Jumals do not use lines for journal explanations. Every line on a journal page is used for debitor credit entries CNOW journals will automatically indent a credt anly when a crede amount is entered. When required, round your answers to the nearest dollar. How does grading work? PAGE 1 JOURNAL Score: 40/11) ACCOUNTING EQUATION DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LUITIS Cash 375,145.00 1 375,145.00 2 Investment in Aurora 3,000.00 1 Cash 1.240.00 Dividend Revenue 5 Cash 220,088.00 Investment 7 3 7.70 Points
