year, Water The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the Source completed the following investment transactions: (Click the icon to view the transactiq| i X More Info Read the requirements. Current Assets: Mar. 3 Long-term Assets: May 15 Dec. 15 Dec. 31 Purchased 5,000 shares at $8 per share of JJ Software common stock as a long- term equity investment, representing 5% ownership, no significant influence. Received a cash dividend of $0.94 per share on the JJ investment. Received a cash dividend of $65,000 from Andy investment. Received Andy's annual report showing $110,000 of net income. Received JJ's annual report showing $500,000 of net income for the year. Andy's stock fair value at year-end was $273,500. JJ's common stock fair value at year-end was $13 per share. Dec. 31 Stockhold Dec. 31 Accumulated Other Comprehensive Inc Dec. 31 Requirement 4. Where is the unrealized Print Done The unrealized holding gain or loss assa Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the transactions for the year of Water Source. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Mar. 3: Purchased 5,000 shares at $8 per share of JJ Software common stock as a long-term equity investment, representing 5% ownership, no significant influence. Date Accounts and Explanation Debit Credit Mar. 3 Equity Investments 40000 Cash 40000 Purchased investment in stock. May 15: Received a cash dividend of $0.94 per share on the JJ investment. Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Dec. 31: Received Andy's annual report showing $110,000 of net income. Date Accounts and Explanation Debit Credit Dec. 31 38500 Equity InvestmentsAndy Revenue from Investments 38500 Recorded revenue earned from investment (equity method). Dec. 31: Received JJ's annual report showing $500,000 of net income for the year. Date Accounts and Explanation Debit Credit Dec. 31 No entry required Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Dec. 31: Andy's stock fair value at year-end was $273,500. Date Accounts and Explanation Debit Credit Dec. 31 Dec. 31: JJ's common stock fair value at year-end was $13 per share. Date Accounts and Explanation Debit Credit Dec. 31 Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 2. Post transactions to T-accounts to determine the December 31, 2024, balances related to the investment and investment income accounts. (Select the missing investment account.) Equity InvestmentsAndy Revenue from Investments Equity Investments Dividend Revenue Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Fair Value Adjustment-Equity Investments Requirement 3. Prepare Water Source's partial balance sheet at December 31, 2024, from your answers in Requirement 2. (If a box is not used in the partial balance sheet, leave the box empty; do not select a label or enter a zero.) Water Source, Co. Balance Sheet (Partial) December 31, 2024 Assets Current Assets: Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 3. Prepare Water Source's partial balance sheet at December 31, 2024, from your answers in Requirement 2. (If a box is not used in the partial balance sheet, leave the box empty; do not select a label or enter a zero.) Water Source, Co. Balance Sheet (Partial) December 31, 2024 Assets Current Assets: Long-term Assets: Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Current Assets: Long-term Assets: Stockholders' Equity Accumulated Other Comprehensive Income: Requirement 4. Where is the unrealized holding gain or loss associated with the JJ stock reported? The unrealized holding gain or loss associated with the Lili stock is included on the income statement in the Choose from any list or enter any number in the input fields and then continue to the next question. ? year, Water The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the Source completed the following investment transactions: (Click the icon to view the transactiq| i X More Info Read the requirements. Current Assets: Mar. 3 Long-term Assets: May 15 Dec. 15 Dec. 31 Purchased 5,000 shares at $8 per share of JJ Software common stock as a long- term equity investment, representing 5% ownership, no significant influence. Received a cash dividend of $0.94 per share on the JJ investment. Received a cash dividend of $65,000 from Andy investment. Received Andy's annual report showing $110,000 of net income. Received JJ's annual report showing $500,000 of net income for the year. Andy's stock fair value at year-end was $273,500. JJ's common stock fair value at year-end was $13 per share. Dec. 31 Stockhold Dec. 31 Accumulated Other Comprehensive Inc Dec. 31 Requirement 4. Where is the unrealized Print Done The unrealized holding gain or loss assa Choose from any list or enter any number in the input fields and then continue to the next question. ? year, Water The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the Source completed the following investment transactions: (Click the icon to view the transactiq| i X More Info Read the requirements. Current Assets: Mar. 3 Long-term Assets: May 15 Dec. 15 Dec. 31 Purchased 5,000 shares at $8 per share of JJ Software common stock as a long- term equity investment, representing 5% ownership, no significant influence. Received a cash dividend of $0.94 per share on the JJ investment. Received a cash dividend of $65,000 from Andy investment. Received Andy's annual report showing $110,000 of net income. Received JJ's annual report showing $500,000 of net income for the year. Andy's stock fair value at year-end was $273,500. JJ's common stock fair value at year-end was $13 per share. Dec. 31 Stockhold Dec. 31 Accumulated Other Comprehensive Inc Dec. 31 Requirement 4. Where is the unrealized Print Done The unrealized holding gain or loss assa Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the transactions for the year of Water Source. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Mar. 3: Purchased 5,000 shares at $8 per share of JJ Software common stock as a long-term equity investment, representing 5% ownership, no significant influence. Date Accounts and Explanation Debit Credit Mar. 3 Equity Investments 40000 Cash 40000 Purchased investment in stock. May 15: Received a cash dividend of $0.94 per share on the JJ investment. Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Dec. 31: Received Andy's annual report showing $110,000 of net income. Date Accounts and Explanation Debit Credit Dec. 31 38500 Equity InvestmentsAndy Revenue from Investments 38500 Recorded revenue earned from investment (equity method). Dec. 31: Received JJ's annual report showing $500,000 of net income for the year. Date Accounts and Explanation Debit Credit Dec. 31 No entry required Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Dec. 31: Andy's stock fair value at year-end was $273,500. Date Accounts and Explanation Debit Credit Dec. 31 Dec. 31: JJ's common stock fair value at year-end was $13 per share. Date Accounts and Explanation Debit Credit Dec. 31 Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 2. Post transactions to T-accounts to determine the December 31, 2024, balances related to the investment and investment income accounts. (Select the missing investment account.) Equity InvestmentsAndy Revenue from Investments Equity Investments Dividend Revenue Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Fair Value Adjustment-Equity Investments Requirement 3. Prepare Water Source's partial balance sheet at December 31, 2024, from your answers in Requirement 2. (If a box is not used in the partial balance sheet, leave the box empty; do not select a label or enter a zero.) Water Source, Co. Balance Sheet (Partial) December 31, 2024 Assets Current Assets: Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 3. Prepare Water Source's partial balance sheet at December 31, 2024, from your answers in Requirement 2. (If a box is not used in the partial balance sheet, leave the box empty; do not select a label or enter a zero.) Water Source, Co. Balance Sheet (Partial) December 31, 2024 Assets Current Assets: Long-term Assets: Choose from any list or enter any number in the input fields and then continue to the next question. ? The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the year, Water Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Current Assets: Long-term Assets: Stockholders' Equity Accumulated Other Comprehensive Income: Requirement 4. Where is the unrealized holding gain or loss associated with the JJ stock reported? The unrealized holding gain or loss associated with the Lili stock is included on the income statement in the Choose from any list or enter any number in the input fields and then continue to the next question. ? year, Water The beginning balance sheet of Water Source Co. included a $300,000 investment in Andy stock (35% ownership, Water has significant influence over Andy). During the Source completed the following investment transactions: (Click the icon to view the transactiq| i X More Info Read the requirements. Current Assets: Mar. 3 Long-term Assets: May 15 Dec. 15 Dec. 31 Purchased 5,000 shares at $8 per share of JJ Software common stock as a long- term equity investment, representing 5% ownership, no significant influence. Received a cash dividend of $0.94 per share on the JJ investment. Received a cash dividend of $65,000 from Andy investment. Received Andy's annual report showing $110,000 of net income. Received JJ's annual report showing $500,000 of net income for the year. Andy's stock fair value at year-end was $273,500. JJ's common stock fair value at year-end was $13 per share. Dec. 31 Stockhold Dec. 31 Accumulated Other Comprehensive Inc Dec. 31 Requirement 4. Where is the unrealized Print Done The unrealized holding gain or loss assa Choose from any list or enter any number in the input fields and then continue to the next