Sault Corp. has a new accounting co-op student who heard that the accounting for equity investments changes with the amount of shares held. The student needs to know the accounting differences beween two different scenarios and how Sault Corp. should record the transaction and balances if it owns different amounts of Halliday Ltd. shares as a long-term investment. Halliday Ltd. has a total of 35,000 shares outstanding. (Click the icon to view the chart.) Sault Ltd. entitled to net income Journal entry to recognize Under the $80,000 in net income declared by Halliday Ltd. declared by Halliday Ltd. Journal entry to recognize the Accounts year-end market value of $43 per share. Debit Credit eed What is the balance in the investments account at year end? 51 at year enda Option B: 15,750 Shares Which accounting method should be used for this long-term investment? Journal entry to record purchase of Accounts shares at $44 each. No commissions. Debit Credit Sault Corp. has a new accounting co-op student who heard that the accounting for equity investments changes with the amount of shares held. The student needs to know the accounting differences beween two different scenarios and how Sault Corp. should record the transaction and balances if it owns different amounts of Halliday Ltd. shares as a long-term investment. Halliday Ltd. has a total of 35,000 shares outstanding. (Click the icon to view the chart.) Option A: 5,600 Shares Which accounting method should be used for this long-term investment? Journal entry to record purchase of shares at $44 each. No commissions. Accounts Debit Credit Accounts Debit | Credit Journal entry to recognize share of $48,000 in dividends declared and paid. (Hold all decimals in interim calculations. Round your final answer to the nearest whole dollar.) Sault Corp. has a new accounting co-op student who heard that the accounting for equity investments changes with the amount of shares held. The student needs to know the accounting differences beween two different scenarios and how Sault Corp. should record the transaction and balances if it owns different amounts of Halliday Ltd. shares as a long-term investment. Halliday Ltd. has a total of 35,000 shares outstanding. (Click the icon to view the chart.) Sault Ltd. entitled to net income Journal entry to recognize Under the $80,000 in net income declared by Halliday Ltd. declared by Halliday Ltd. Journal entry to recognize the Accounts year-end market value of $43 per share. Debit Credit eed What is the balance in the investments account at year end? 51 at year enda Option B: 15,750 Shares Which accounting method should be used for this long-term investment? Journal entry to record purchase of Accounts shares at $44 each. No commissions. Debit Credit Sault Corp. has a new accounting co-op student who heard that the accounting for equity investments changes with the amount of shares held. The student needs to know the accounting differences beween two different scenarios and how Sault Corp. should record the transaction and balances if it owns different amounts of Halliday Ltd. shares as a long-term investment. Halliday Ltd. has a total of 35,000 shares outstanding. (Click the icon to view the chart.) Option A: 5,600 Shares Which accounting method should be used for this long-term investment? Journal entry to record purchase of shares at $44 each. No commissions. Accounts Debit Credit Accounts Debit | Credit Journal entry to recognize share of $48,000 in dividends declared and paid. (Hold all decimals in interim calculations. Round your final answer to the nearest whole dollar.)
