Q1.

of Party Source Co included a $700,000 investment in Essex stock (20% ownership, Party has significant influenc eted the following investment transactions me transactions.) More info - X ett ad st line of is blank) shad rship, nos Mar. 3 May 15 Dec. 15 Dec. 31 Dec. 31 Dec. 31 Dec. 31 Purchased 2,000 shares at $7 per share of John Software common stock as a long-term equity Investment, representing 4% ownership, no significant influence Received a cash dividend of $0.43 per share on the John investment Received a cash dividend of $55.000 from Essex investment. Received Essex's annual report showing $110,000 of net income Received John's annual report showing 5100,000 of net income for the year Essex's stock fair value at year-end was 5667 000 John's common stock fale value at year-end was $14 per share a cash Print Done ww wstormy number in the input Delds and then continue to the next question 592 pre Tast D LG ce Co included a $700,000 investment in Essex stock (20% ownership, Party has wing investment transactions: * Requirements - X 1. Journalize the transactions for the year of Party Source 2. Post transactions to T-accounts to determine the December 31, 2024, balances related to the investment and investment income accounts 3. Prepare Party Source's partial balance sheet at December 31, 2024, from your answers in Requirement 2. 4. Where is the unrealized holding gain or loss associated with the John stock reported? D Print Done any number in the input fields and then continue to the next question Thu bageving balance sheet Puy Source Co Included a $700.000 investment in Essex stock (20% ownership Party has significant intence over Essex) During the year Party Source completed the following moment transaction Click the icon to the main Read the 20 Requirement 1. Joomake the transactions for the year of Party Source Record debt fint hords Select the explanation on the last line of the joumatomy I to stay de "No entry on the title of the Accounts and Explanation column and the remaining cells blank) Na Puchod 2.000 57 per share of John Sutware common stock us akong term equity investment representing ownenho tigricant nh Date Accounts and Explanation Debit Crede 20 5pm 40 om Som Credi 11 LG 42 Boa Q 7 P Click the icon to view the transactions.) Read the requirements May 15 Received a cash dividend of 0.43 per share on the John investment Date Accounts and Explanation Debit Credit May 15 0 120 om Dec 15 Received a cash dividend of $55,000 from Essex investment Date Accounts and Explanation Debit 24/20 59 pm Credit Dec 15 ./24/20 4-5m 11/24/20 11pm 1112429 Choose from sto enter any number in the input ids and then continue to the next question 1112420 PreT Chat 115 o LG Read the requirements Dec 31 Received Essex's annual report showing 5110,000 of net income Date Accounts and Explanation Debit Credit Dec 31 20 mm Dec 31 Received John's annual report showing $100,000 of net income for the year Date Accounts and Explanation Dec. 31 Dobit Credit 120 pen 24:20 Som Choose from any to enter number in the input els and then continue to the next question 124/20 1. Sem 12420 115m Chat Prest Chat LG red Dec 31 Essex's stock fair value at year-end was $667,000 Date Accounts and Explanation Debit Credit Dec 31 5 Dec 31. John's common stock fair value at year-end was 514 per share Date Accounts and Explanation 20 om Debit Credit Dec 31 4120 224720 -59m Choose from any stor enter any mumber is the input ids and then continue to the next question 1/24/20 Son 17242 che 12-Test Chapter 12 CHP O D LG 512 Sa HD Request 2. Postacions to accounts to determine the December 31, 2024 balances related to the investment and investment income accounts (50 the magnement Eguilty Investments-Essex Revenge from Investments Equity wents Dividend Revue 20 om 20 Falem 20 Cho to the O LG 0 Sum G Fait Value Adjustment--Equity Investments Requint 3. Prepare Party Sout's partial balance sheet December 31, 2024 from your answers in Requirement 2 ta box is not used in the partial bosh box my do not let a label or entera Party Source Co Halte Sheet Party December 1, 2024 Current 220 030 AN LG 812 P o Enter Read the requirements Balance Sheet(Partiat) December 31, 2024 Assets Current Assets Long term Assets 20 120 Stockholders' Equity Accued Other Comprehensive Income 90 R4/20 --590m Requirement. Where is the realized holding gain or loss associated with the John stock reported? The need holding in or lossessociated with the stock is included on the income statement in the 2120 Choom way to enter any number is the input Sels and then continue to the red question 11-55m Operest o a LG sex si No entry required gbe Available-for-Sale Debt Investments ty S Cash e lcc Dividend Revenue quire Equity Investments Equity Investments-Essex Fair Value Adjustment-Available-for-Sale Fair Value Adjustment-Equity Investments Fair Value Adjustment-Held-to-Maturity Fair Value Adjustment-Trading Gain on Disposal Held-to-Maturity Debt Investments 1. John's Interest Revenue Loss on Disposal Date Revenue from Investments 31 Debit Lequirement 2. Post transactions to T-accounts to determine the December 31, 2024 balances related emissing investment account) Choose from any list or enter any number in the input fields and then continue to the next question. Chapter F12 Pre-Test Chapter 7:12 Quiz Chapter 13 Pe Test sse Fair Value Adjustment-Held-to-Maturity Fair Value AdjustmentTrading Gain on Disposal S Held-to-Maturity Debt Investments .cc Interest Revenue Loss on Disposal sire Revenue from Investments Trading Debt Investments Unrealized Holding Gain-Available-for-Sale Unrealized Holding Gain-Equity Investments Unrealized Holding Gain-Held-to-Maturity Unrealized Holding Gain-Trading Unrealized Holding Loss-Available-for-Sale John's Unrealized Holding Loss-Equity Investments Unrealized Holding Loss-Held-to-Maturity Unrealized Holding Loss-Trading Re Del quirement 2. Post transactions to T-accounts to determine the December 31, 2024, balances rela missing investment account.) ose from any list or enter any number in the input Tields and then continue to the next quest Chapter 12 Pre test Chapter 12 Q2 Chapter 3 Pre Test ments an's Adjusted available-for-sale debt investment to market value. Adjusted equity investment to market value. Adjusted held-to-maturity debt investment to market value. Adjusted trading debt investment to market value. Purchased investment in stock. Received cash dividend. Received cash dividend (equity method). Recorded revenue earned from investment. Recorded revenue earned from investment (equity method). D rement 2. Post transactions to T-accounts to determine the December 31, 2024. balances re ning investment account) ose from any ust or enter any number in the input fields and then continue to the next ques naptet F12 Pre test Chapter 32 Quiz Chapter Test 20 m Requirement 2. Post transactions to T-accounts to determine the Decer the missing investment account) Equity Investments-Essex 120 pm 4/20 -9pm Beg Mar. 3 May 15 Dec. 15 Dec 31 24/20 59pm Equity Investments /24/20 1:59pm Choose from any list or enter any number in the input fields and then continue 1/24/20 11:59pm 11/24/20 11:59pm Chapter 12 Pre-Test 11/24/20 11:59pm Chapter F:12 Quiz 11/24/20 Chapter 5:13 Pre-Test LG Assets Current Assets: Available-for-Sale Debt Investments (at cost) Available-for-Sale Debt Investments (at fair value) Dividend Revenue Equity Investments (at cost) Equity Investments (at fair value) Equity Investments (equity method) Equity Investments-Essex (at cost) Equity Investments-Essex (at fair value) Equity Investments Essex (equity method) Held-to-Maturity Debt investments (at cost) 120 1 Held-o-Maturity Debt investments (at fair value) pm Revenue from Investments Trading Debt Investments (at cost) Trading Debt Investments (at fair value) -9pm Unrealized Holding Gain (Loss)-Available-for-Sale Chapter F:12 Pre-Test 0 m ociated with is included 4/20 nd then cont 24120 -59pm 1/24/20 1:59pm Chapter 32 Quiz 11/24/20 Chapter 33 Pre Test December 31, 2024 Assets Current Assets Tor QuooL VOSTROT TO vura Dividend Revenue Equity Investments (at cost) Equity Investments (at fair value) Equity Investments (equity method) Equity Investments-Essex (at cost) Equity Investments-Essex (at fair value) Equity Investments-Essex (equity method) Held-to-Maturity Debt Investments (at cost) 20 Held-to-Maturity Debt Investments (at fair value) m Revenue from Investments Trading Debt Investments (at cost) 20 Trading Debt Investments (at fair value) Unrealized Holding Gain (Loss) Available-for-Sale c Unrealized Holding Gain (Loss)Held-to-Maturity 4/20 Unrealized Holding Gain (Loss)Equity Investments pm Unrealized Holding Gain (Loss) --Trading 24/20 Chapter F:12 Pre-Test 59pm ociated with is included o 1 pm nd then conti 124/20 59pm Chapter 7:12 Quiz 1/24/20 Chapter 2:13 Pre Test o ad the requirements Dalance sneeu [Parudi December 31, 2024 Assets Current Assets: Long-term Assets Aci accumulated other comprehensive income section on the balance sheet balance sheet as a contra account to the trading debt investment account. revenues section of the income statement Rec other income and expenses) section on the income statement The stock me sta Choose from any list or enter any number in the input fields and then continue to the next 20 Chapter 12 Pre-Test um 20 3pm Chapter 12 Quiz 24/20 Chapter 13 Pre-Test o O LG Please answer the question in full if you know how to do it! 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