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Tampa Today Publishers completed the following Investment transactions during 2018 and 2019: (Click the icon to view the transactions.) Requirements 1. Journalize Tampa Today's investment
Tampa Today Publishers completed the following Investment transactions during 2018 and 2019: (Click the icon to view the transactions.) Requirements 1. Journalize Tampa Today's investment transactions. Explanations are not required 2. On December 31, 2018, how would the Lovely stock be classified and at what value would it be reported on the balance sheet? Requirement 1. Joumalize Tampa's investment transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no untry is required, select "No entry required on the first line of the Accounts column and leave the remaining cells blank.) Dec 6, 2018: Purchased 1,500 shares of Lovely stock at a price of $30.00 per share, intending to sell the investment next month. Tampa did not have significant influence over Lovely Date Accounts Debit Credit 2018 Dec. 6 i More Info Dec 23, 2018: Received a cash dividend of $1.90 per share on the Lovely stock. Date 2018 Dec. 6 Purchased 1,500 shares of Lovely stock at a price of $30.00 per share, Intending to sell the investment next month. Tampa did not have significant influence over Lovely. 23 Received a cash dividend of $1.90 per share on the Lovely stock. 31 Adjusted the investment to its market value of $11.00 per share. 2019 Jan. 27 Sold the Lovely stock for $14.60 per share. Accounts Debit Credit 2018 Dec. 23 Print Done Dec. 31, 2018: Adjusted the investment to its market value of $11.00 per share. Date Accounts Debit Credit 2018 Dec. 31 Jan. 27, 2019: Sold the Lovely stock for $14.60 per share. Date Accounts Debit Credit 2019 Jan. 27 Requirement 2. On December 31, 2018, how would the Lovely stock be classified and at what value would it be reported on the balance sheet? The Lovely stock would be classified as a L of $ on the December 31, 2018, balance sheet
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