StampStamp

Company completed these long-term equity investment transactions during

2018.

.1. Journalize

StampStamp

Company's investment transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.)Apr 10: Purchased 300 shares of RoboticsRobotics stock (less than 15% of RoboticsRobotics's outstanding stock), paying $23 per share.

StampStamp

Company intends to hold the investment indefinitely.

Journal Entry
Date		Accounts	Debit	Credit
Apr	10

Jul 22: Received a cash dividend of

$1.26

per share on the

RoboticsRobotics

stock.

Journal Entry
Date		Accounts	Debit	Credit
Jul	22

Dec 31: Adjusted the

RoboticsRobotics

investment to its current market value of

$5,200.

Date		Accounts	Debit	Credit
Dec	31

2. Assume the

RoboticsRobotics

stock is

StampStamp

Company's only investment. Explain how these transactions will be reflected on

StampStamp

Company's income statement for the year ended December 31,

2018.

The income statement will report			of $		and
of $		.

3. Show how to report the investment on

StampStamp

Company's balance sheet at December 31,

2018.

Ignore income taxes. (Use a parentheses or a minus sign when entering losses.)

Stamp Inc.
Balance Sheet (Partial)
December 31, 2018
Assets
Long-term assets