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Question Help Dollar Bill Investments completed the following investment transactions during 2024: (Click the icon to view the transactions.) Requirements 1. Journalize the entries for
Question Help Dollar Bill Investments completed the following investment transactions during 2024: (Click the icon to view the transactions.) Requirements 1. Journalize the entries for 2024. Explanations are not required. 2. What account(s) and amount(s), if any, would be reported on Dollar Bill's income statement for the year ended December 31, 2024? Requirement 1. Journalize the entries for 2024. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no entry is required, select "No entry required" on the first line of the Accounts column and leave the remaining cells blank.) Jan. 14: Purchased 1,400 shares of Tycon stock, paying $58 per share. The investment represents 4% ownership in Tycon's voting stock. Dollar Bill does not have significant influence over Tycon Dollar Bill intends to hold the investment for the indefinite future. Date Accounts Debit Credit More Info - Jan. 14 Equity Investments-Tycon 81,200 Cash 81,200 Jan. 14 Purchased 1,400 shares of Tycon stock, paying $58 per share. The investment represents 4% ownership in Tycon's voting stock. Dollar Bill does not have significant influence over Tycon. Dollar Bill intends to hold the investment for the indefinite future. Aug. 22: Received a cash dividend of $0.67 per share on the Tycon stock. Aug. 22 Received a cash dividend of $0.67 per share on the Tycon stock. Date Accounts Debit Credit Dec. 31 Adjusted the Tycon investment to its current market value of $59. Cash 938 Aug. 22 Dividend Revenue 938 Print Done Choose from any list or enter any number in the input fields and then click Check Answer. 2. What account(s) and amount(s), if any, would be reported on Dollar Bill's income statement for the year ended December 31, Cash 81,200 Aug. 22: Received a cash dividend of $0.67 per share on the Tycon stock. Date Accounts Debit Credit More Aug. 22 Cash 938 Dividend Revenue 938 Jan. 14 Dec. 31: Adjusted the Tycon investment to its current market value of $59. Aug. 22 Date Accounts Debit Credit Dec. 31 Dec. 31 5- No entry required es Available-for-Sale Debt Investments ei Cash Dividend Revenue ats Equity Investments-Tycon Tize Fair Value Adjustment-Available-for-Sale CC Fair Value AdjustmentEquity Investments Fair Value Adjustment-Held-to-Maturity Fair Value AdjustmentTrading Gain on Disposal cei Held-to-Maturity Debt Investments Interest Revenue Loss on Disposal Trading Debt Investments Unrealized Holding Gain-Available-for-Sale Unrealized Holding GainEquity Investments Unrealized Holding Gain-Held-to-Maturity Unrealized Holding Gain-Trading ust Unrealized Holding Loss-Available-for-Sale Unrealized Holding Loss-Equity Investments Unrealized Holding Loss-Held-to-Maturity Unrealized Holding Loss--Trading any list or enter any number in the input fields and then click chool
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