When a company sells a trading investment, the gain or loss on the sale is reported in the: other revenue, gains, and losses section of the income statement. other revenue, gains, and losses section of the balance sheet. revenues section of the income statement. short-term investments section of the balance sheet. Blueberry Jam Company owns 37% of Georgia Peach Company. Net income for Georgia Peach Company for the year is $317,000. The journal entry prepared by Blueberry Jam Company includes a: debit to Long-Term Investments for $117, 290. credit to Long-Term Investments for $199, 710. credit to Long-Term Investments for $117, 290. debit to Long-Term Investments for $199, 710. Allen invests $20,000 cash and Anne invests land that originally cost $20,000 in their new partnership. The land is now worth $35,000. Which of the following is the balance in Anne's capital account? $20,000 $30,000 $25,000 $35,000 Equipment purchased for $85,000 on January 1, 2006, was sold on July 1, 2009. The company uses the straight-line method of computing depreciation and recognizes $17,000 of depreciation expense annually. When recording the sale, the company should record a debit to Accumulated Depreciation for: $68,000. $51,000. $59, 500. None of the above answers is correct, as accumulated depreciation is not debited. Which of the following are included in paid-in capital? Investments by the stockholders of a corporation Investments by the creditors of a corporation Capital that the corporation has earned through profitable operations All of the above