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Save Homework: Chapter 15 Homework Score: 0 of 36 pts 1 of 1 (0 complete) P15-22B (similar to) HW Score: 0%, 0 of 36 pts neu Question Help Ship Your Way Corporation generated excess cash and invested in securities as follows (Click the icon to view the transactions) Read the reducements Requirement 1. Classily each of the investments made during 2018. (Assume the investments represent less than 20% of ownership of outstanding voting stock) Cassification Microstock Denna bond Read the recrutements Requirement 1. Classify each of the investments made during 2018. (Assume the investments represent less than 2 of outstanding voting stock Sabon Reason Available for Sale Det Investment Controlling interest equity investment Held to Maturity Debt Investment No Significant interest equity investment Significant interest euity investment Trading Dabil investment Choose from any drop down list and then click Check Answer. Check Answe hp Your Way Corporation generated excess cash and invested in secunties as follows Click the icon to view the transactions Cead the requirements Cequirement 1. Classify each of the investments made during 2018. Assume the investments represent less than 20% of ownership outstanding voting stock) HAD SOCK anna hond Ownership is between 2005 and 50% of total custanding stock man 50% of total cutstanding stock an 20% of total standing stock hoose from any drop-down list and then click Check Answer Check Answer parts remaining ements Classify each of the investments made during 2018. (Assume the investments represent less than 2 oting Requirements 1. Classify each of the investments made dunng 2018. (Assume the equity investments represent less than 20% of ownership of outstanding voting stock) 2. Joumalize the 2018 transactions Explanations are not required 3. Prepare T-accounts for the investment assets, and show how to report the investments on Ship Your Way's balance sheet at December 31, 2018 4. Where is the unrealized holding gain or loss associated with the trading debt investment reported? Done ent 1 ting vd 0 More info 2018 sep Purchased 3 600 shares of Micro Inc common stock at $15.00 per share Ship Your Way plans to sell the stock within three months, when the company will need the cash for normal operations Ship Your Way does not have significant influence over Micro Received a cash dividend of S0 90 per Share on the Microstock investment Sold the Micro stock for $15.10 per share Purchased a Zienna bond for $32 000 at face value Ship Your Way classifies the investment as trading and short-term Received a $220 interest payment from Zienna Adjusted the Zienna bond to its market value of $34.000 Oct Dec. 31 31 Done many drop-down list and then click Check Answer ownership of outstanding voting stock) Reason Micro stock Classification No Significant interest equity investment Trading Debt investment Ownership is less than 20% of total oustanding stock Zienna bond Intent is to hold for less than a year Requirement 2. Journalize the 2018 fransactions Explanations are not required Record debits first then credits Exclude explanations from journal entres. If no entry is required select "No entry required on the first line of the Accounts column and leave the remaining cells blank Jul 2 Purchased 3 600 shares of Micro, Inc common stock al $15 00 per share Ship Your Way plans to sell the stock within three months when the company will need the cash for normal operations Ship Your Way does not have significant influence over Micro Date Accounts Credit Choose from any list or enter any number in the input fields and then click Check Answer 8 pants O remaining Check Answer Type here to search Homework: Chapter 15 Homework Score: 3.35 of 36 pts 1 of 1 (1 complete) HV follows No entry required P15-22 Available for Sale Debt Investments Cash Ship Your Wayn end Resende Click the ice Read the require Far Value Adjustment Available for Sale Fair Value Adjustment Equity Investments Requirement 1. Fait men held to Maturity ownership of out as a astment Trading e investmen ebt investments an 2096 ess than a on the first ding GaAvailable for Sale Requirement 2 explanations for ding GamEquity Investments leave the remain unes folding Gain-Held to Maturity Holding Gain Trading Jul 2 Purchase Unreal three months wel Holding Loss Available for Sale over MICTO Unrealized Holding Loss Equity Investments Unrealized Holding Loss-Held-to-Maturity Unrealized Holding Loss-Trading Ship Your Your Way de Debit Choose from any list or enter any number in the input fields and then click Check Answe 8 parts o remaining Clear All Type here to search Read the Accounts.column explanations from ournal entes. If no entry is required, select No entry required on the first line of and leave the remaining cells blank] Jul 2 Purchased 3.800 shares of Micro. Inc. common stock at 15 00 per Share Ship Your Way plans to sell the STOCK within three months when the company will need the cash for normal operations Ship Your way does not have significan influence over Micro Accounts Debit Credit 54000 quynvestments Dash Aud 21 Received a cash dividend of $0.90 per share on the M OSTOCK vestment Date Accounts Debit Credit AL 2 Choose from any list or enter any number in the input fields and then click Check Answer parts neminino Clear All Check Answer Aug 21 Received a cash dividend of So 90 per share on the Microstock investment Date Accounts Debit credit 21 Aug 21 Dividend Revenue Sep 16 Sold the Micro stock for $15 10 per share Date Accounts Credit Sep 16 Choose from any list or enter any number in the input fields and then click Check Answer 6 Pemaining Clear AB Check Answer Sep. 16 Sold the Micro stock for $15 10 per share Date Accounts Debit Credit Sep 16 Cash 54,350 54 000 Equity Investments Gam on Disposal 360 Oct 1Purchased a Zienna bond for $32,000 at face value Ship Your Way classes the investment as trading and Short-term Date Debit Choose from any list or enter any number in the input fields and then click Check Answer 5 parts remaining Clear All Check Answer Type here to search