Raider Investments completed the following investment transactions during 2024 Requirement 1. Journalize Raider's investment transactions. 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 700 shares of Technomite stock, paying $56 per share. The investment represents 3% ownership in Technomite's voting stock. Raider does not have significant influence over Technomite. Raider intends to hold the investment for the indefinite future Date Accounts Debit Credit More info Jan. 14 Equity Investments 39,200 Cash 39,200 Aug. 22: Received a cash dividend of $0.71 per share on the Technomite stock. Jan. 14 Purchased 700 shares of Technomite stock, paying $56 per share. The investment represents 3% ownership in Technomite's voting stock Raider does not have significant influence over Technomite. Raider intends to hold the investment for the indefinite future. Aug. 22 Received a cash dividend of $0.71 per share on the Technomite stock. Dec. 31 Adjusted the investment to its current market value of $55 per share. Dec. 31 Technomite reported net income of $250,000 for the year ended 2024. Date Accounts Debit Credit Aug. 22 Cash 497 Dividend Revenue 497 Print Done Dec. 31: Adjusted the investment to its current market value of $55 per share. Date Accounts Debit Credit Requirements Dec. 31 700 Unrealized Holding Loss-Equity Investments Fair Value Adjustment-Equity Investments 700 1. Journalize Raider's investment transactions. Explanations are not required. 2. Classify and prepare a partial balance sheet for Raider's Technomite investment as of December 31, 2024. 3. Prepare a partial income statement for Raider Investments for year ended December 31, 2024. Dec. 31: Technomite reported net income of $250,000 for the year ended 2024. Date Accounts Debit Credit Dec. 31 No entry required Print Done Requirement 2. Classify and prepare a partial balance sheet for Raider's Technomite investment as of December 31, 2024. (Use a minus sign or parentheses to enter a loss. If a box is not used in the balance sheet, leave the box empty, do not select a label or enter a zero.) Raider Investments Balance Sheet (Partial) December 31, 2024 Current Assets $ 38,500 Long-term Assets Equity Investments (at fair value, cost $39,200) Stockholders' Equity Accumulated Other Comprehensive Income Requirement 3. Prepare a partial income statement for Raider Investments for year ended December 31, 2024. (Use a minus sign or parentheses to enter a loss.) Raider Investments Income Statement (Partial) For the Year Ended December 31, 2024 Other Income and (Expenses)
