Recording and Reporting lovestments in Equity Securities IVN Ajout VA Year End 1 Ondary 1.200. company come to following our security and and the optical Desert Quantity in Com Comment WOO 530 Como 15 red 20 WC) Oh 10 Pershore data subregvert to the action are as follows Dec. 2000 115 115 19.00 102001 Cash S3150 SEK 0.50 NE 2031 Godtheco Dec. 2001 Far West 11 W, 5011 Journal Final Statement Prestation 2. Provide the following entries for Walker Company for 2020 and 2021, aung that the Far Value Adjustment account for the lovestment portfolio is updated annually on December 31 Purchase of equay securities on January 1, 2020 2. Adjustment value on December 11, 2000, 1. Receipt of declared dividends on February 10, 2012 Sale of stock thares on November 2001 sent to a value on December 11, 2031 Nont multiple dem or credit when applicabidin alphabetice order ALCO mne OR Date 2030 in many CH 22000 Var Val- Gaf 000 . 12.000 10.000 0 D O 2.100 O 57.000 2.73 1200 O Branca Provide the first mon for 2007 and the forest count for the new portowy on December thasary. 2000 2. Adjustments in December 2010 fcept of decades olunary 10 20 Sale of Vuodon November 1, 2021 5. Adjusto a value on December 31, 2021 multiple trees when placere Dulle 20 10 ZD 571 20 G . 100 . 270 GROOT O 100 Check SaveAnswers itsen Recording and Reporting Investments in Equity Securities--FV-NI Adjust FVA at Year-End On January 1, 2020, Laker Company acquired the following equity securities and classified them as having insignificant influence Co. Description Quantity Unit Cost T Common stock (no-pan 1,000 shares 520 U Common stock (par 510) 1.000 shares 15 V Preferred stock (par 520, nonconvertible) 400 shares 30 w Common stock (no-par) 1,000 shares 10 Per share data subsequent to the acquisition are as follows. Dec 31, 2020 Fair values: T stock 516: Ustock 515: V stock. 535 and W stock, 59.90 Feb. 10.2021 Cash dividends declared and received: T stock, 51.50: U stock 51: and V stock. 50.50, Nov. 1.2021 Sold the shares of stock at $38. Dec 31, 2021 Fair values: T stock 513: U stock, 517; and W stock 510.15 Journal Entries Financial Statement Presentation a. Provide the following entries for Laker Company for 2020 and 2021, assuming that the Fair Value Adjustment account for the investment portfolio is updated annually on December 31. 1. Purchase of equity securities on January 1, 2020. 2. Adjustment to fair value on December 31, 2020. 3. Receipt of declared dividends on February 10, 2021. 4. Sale of V stock shares on November 1, 2021. 5. Adjustment to fair value on December 31, 2021. Note: List multiple debits or credits (when applicable) in alphabetical order. Date Cr. Account Name Investment in Company T Stock Dr. 20.000 1 jan. 1.2020 Dec 31, 2021 Fair values: T stock $13: U stock. $17: and W stock $10.15 Journal Entries Financial Statement Presentation a. Provide the following entries for Laker Company for 2020 and 2021, assuming that the Fair Value Adjustment account for the investment portfolio is updated annually on December 31 1. Purchase of equity securities on January 1, 2020. 2. Adjustment to fair value on December 31, 2020. 3. Receipt of declared dividends on February 10, 2021. 4. Sale of V stock shares on November 1, 2021. 5. Adjustment to fair value on December 31, 2021. . Note: List multiple debits or credits (when applicable) in alphabetical order. Cr. 0 Dr. 20.000 15,000 12.000 10,000 07 0 0 x Date Account Name 1 Jan 1, 2020 trivestment in Company Stock Investment in Company Stock Investment in Company V Stock Investment in Company W Stock Cash 2 Dec 31, 2020 Fair Value Adjustment-TS Gain on Sale of investment 3 Feb. 10.2021 Cash Dividend Revenue 4 Nov. 1, 2021 Cash Gain on Sale of Investment Investment in Company Stock 5 Dec. 31. 2021 Loss on impairment Loss on impairment OX 07 2.700 0 15,200 0 0 57.000 2.700 X 1.200 x 07 2.700 0 1.200 X 14,000 X 0 OX 0 OX 0 e X Check Per share data subsequent to the acquisition are as follows. Dec 31, 2020 Fair values: T stock, 516: Ustock. $15: V stock. $35 and W stock. 59.90 Feb 10, 2021 Cash dividends declared and received: T stock, 51.50: U stock 51: and V stock 50:50. Nov. 1, 2021 Sold the shares of stock at $38. Dec 31, 2021 Fair values:Tstock 513: U stock 517: and stock $10.15. Journal Entries Financial Statement Presentation Provide the income statement and balance sheet presentation for Laker Company that would reflect these investments for 2020 and 2021. Assume a December 31 year-end. Note: Indicate a loss with a negative sign. 2020 Income Statement Dividend revenue OS 2021 2.700 1.200 x 3.900 X Gain on sale of securities Unrealized loss on equity securities 5 (2.100) 2020 2021 Balance Sheet, Dec. 31 Current Assets Investment in equity securities 5 54.9005 40.150 Check Partially correct Marks for this submission: 4.27/6.00. 3 Previous Save Answers Recording and Reporting lovestments in Equity Securities IVN Ajout VA Year End 1 Ondary 1.200. company come to following our security and and the optical Desert Quantity in Com Comment WOO 530 Como 15 red 20 WC) Oh 10 Pershore data subregvert to the action are as follows Dec. 2000 115 115 19.00 102001 Cash S3150 SEK 0.50 NE 2031 Godtheco Dec. 2001 Far West 11 W, 5011 Journal Final Statement Prestation 2. Provide the following entries for Walker Company for 2020 and 2021, aung that the Far Value Adjustment account for the lovestment portfolio is updated annually on December 31 Purchase of equay securities on January 1, 2020 2. Adjustment value on December 11, 2000, 1. Receipt of declared dividends on February 10, 2012 Sale of stock thares on November 2001 sent to a value on December 11, 2031 Nont multiple dem or credit when applicabidin alphabetice order ALCO mne OR Date 2030 in many CH 22000 Var Val- Gaf 000 . 12.000 10.000 0 D O 2.100 O 57.000 2.73 1200 O Branca Provide the first mon for 2007 and the forest count for the new portowy on December thasary. 2000 2. Adjustments in December 2010 fcept of decades olunary 10 20 Sale of Vuodon November 1, 2021 5. Adjusto a value on December 31, 2021 multiple trees when placere Dulle 20 10 ZD 571 20 G . 100 . 270 GROOT O 100 Check SaveAnswers itsen Recording and Reporting Investments in Equity Securities--FV-NI Adjust FVA at Year-End On January 1, 2020, Laker Company acquired the following equity securities and classified them as having insignificant influence Co. Description Quantity Unit Cost T Common stock (no-pan 1,000 shares 520 U Common stock (par 510) 1.000 shares 15 V Preferred stock (par 520, nonconvertible) 400 shares 30 w Common stock (no-par) 1,000 shares 10 Per share data subsequent to the acquisition are as follows. Dec 31, 2020 Fair values: T stock 516: Ustock 515: V stock. 535 and W stock, 59.90 Feb. 10.2021 Cash dividends declared and received: T stock, 51.50: U stock 51: and V stock. 50.50, Nov. 1.2021 Sold the shares of stock at $38. Dec 31, 2021 Fair values: T stock 513: U stock, 517; and W stock 510.15 Journal Entries Financial Statement Presentation a. Provide the following entries for Laker Company for 2020 and 2021, assuming that the Fair Value Adjustment account for the investment portfolio is updated annually on December 31. 1. Purchase of equity securities on January 1, 2020. 2. Adjustment to fair value on December 31, 2020. 3. Receipt of declared dividends on February 10, 2021. 4. Sale of V stock shares on November 1, 2021. 5. Adjustment to fair value on December 31, 2021. Note: List multiple debits or credits (when applicable) in alphabetical order. Date Cr. Account Name Investment in Company T Stock Dr. 20.000 1 jan. 1.2020 Dec 31, 2021 Fair values: T stock $13: U stock. $17: and W stock $10.15 Journal Entries Financial Statement Presentation a. Provide the following entries for Laker Company for 2020 and 2021, assuming that the Fair Value Adjustment account for the investment portfolio is updated annually on December 31 1. Purchase of equity securities on January 1, 2020. 2. Adjustment to fair value on December 31, 2020. 3. Receipt of declared dividends on February 10, 2021. 4. Sale of V stock shares on November 1, 2021. 5. Adjustment to fair value on December 31, 2021. . Note: List multiple debits or credits (when applicable) in alphabetical order. Cr. 0 Dr. 20.000 15,000 12.000 10,000 07 0 0 x Date Account Name 1 Jan 1, 2020 trivestment in Company Stock Investment in Company Stock Investment in Company V Stock Investment in Company W Stock Cash 2 Dec 31, 2020 Fair Value Adjustment-TS Gain on Sale of investment 3 Feb. 10.2021 Cash Dividend Revenue 4 Nov. 1, 2021 Cash Gain on Sale of Investment Investment in Company Stock 5 Dec. 31. 2021 Loss on impairment Loss on impairment OX 07 2.700 0 15,200 0 0 57.000 2.700 X 1.200 x 07 2.700 0 1.200 X 14,000 X 0 OX 0 OX 0 e X Check Per share data subsequent to the acquisition are as follows. Dec 31, 2020 Fair values: T stock, 516: Ustock. $15: V stock. $35 and W stock. 59.90 Feb 10, 2021 Cash dividends declared and received: T stock, 51.50: U stock 51: and V stock 50:50. Nov. 1, 2021 Sold the shares of stock at $38. Dec 31, 2021 Fair values:Tstock 513: U stock 517: and stock $10.15. Journal Entries Financial Statement Presentation Provide the income statement and balance sheet presentation for Laker Company that would reflect these investments for 2020 and 2021. Assume a December 31 year-end. Note: Indicate a loss with a negative sign. 2020 Income Statement Dividend revenue OS 2021 2.700 1.200 x 3.900 X Gain on sale of securities Unrealized loss on equity securities 5 (2.100) 2020 2021 Balance Sheet, Dec. 31 Current Assets Investment in equity securities 5 54.9005 40.150 Check Partially correct Marks for this submission: 4.27/6.00. 3 Previous Save Answers