. What would be reported on the balance sheet related to the investments in affiliates on December 31? . What would be reported on the income statement for the year?
. What would be reported on the balance sheet related to the investments in affiliates on December 31? . What would be reported on the income statement for the year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please avoid image based answers thnx
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Required information
[The following information applies to the questions displayed below.]
Below are selected T-accounts related to equity investments for William Company.
1/1 Balance
Purchase
Share of affiliates' earnings
12/31 balance
Required D
Debit
Required E
Debit
WILLIAM COMPANY
Equity in investee earnings
Complete this question by entering your answers in the tabs below.
Income Statement (Partial)
For the Year Ending December 31, Current Year
Other items:
Investments
83,627
12,852
?
89,310
What would be reported on the income statement for the year?
Equity in Investee Earnings
d. What would be reported on the balance sheet related to the investments in affiliates on December 31?
e. What would be reported on the income statement for the year?
$ 10,108 X
10,108
Required D
0
?
2,939
Required E
Credit
>
Share of affiliates' dividends
Credit
1/1 Balance
Share of affiliates' earnings
12/31 Balance](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1ef3ad37-f77e-4b09-af89-0307cd0bf3be%2F31b1c91b-44b5-477a-825b-c1f339566475%2Ffzefsic_processed.png&w=3840&q=75)
Transcribed Image Text:ed
!
Required information
[The following information applies to the questions displayed below.]
Below are selected T-accounts related to equity investments for William Company.
1/1 Balance
Purchase
Share of affiliates' earnings
12/31 balance
Required D
Debit
Required E
Debit
WILLIAM COMPANY
Equity in investee earnings
Complete this question by entering your answers in the tabs below.
Income Statement (Partial)
For the Year Ending December 31, Current Year
Other items:
Investments
83,627
12,852
?
89,310
What would be reported on the income statement for the year?
Equity in Investee Earnings
d. What would be reported on the balance sheet related to the investments in affiliates on December 31?
e. What would be reported on the income statement for the year?
$ 10,108 X
10,108
Required D
0
?
2,939
Required E
Credit
>
Share of affiliates' dividends
Credit
1/1 Balance
Share of affiliates' earnings
12/31 Balance
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