Assessing Financial Statement Effects of Trading and Available-for-Sale Securities Use the financial statement effects template to record the following four transactions involving investments in marketable securities. Purchased 6,000 common shares of Liu, Inc., at $12.25 cash per share. Received a cash dividend of $1.50 per common share from Liu. Year-end market price of Liu common stock is $11.25 per share. Sold all 6,000 common shares of Liu for $66,300. Use negative signs with answers, when appropriate. Balance Sheet Transaction Cash Asset + Noncash Assets = Liabilities + Contributed Capital + Earned Capital (1) Answer Answer Answer Answer Answer (2) Answer Answer Answer Answer Answer (3) Answer Answer Answer Answer Answer (4) Answer Answer Answer Answer Answer Income Statement Revenue - Expenses = Net Income Answer Answer Answer Answer Answer Answer
Assessing Financial Statement Effects of Trading and Available-for-Sale Securities Use the financial statement effects template to record the following four transactions involving investments in marketable securities. Purchased 6,000 common shares of Liu, Inc., at $12.25 cash per share. Received a cash dividend of $1.50 per common share from Liu. Year-end market price of Liu common stock is $11.25 per share. Sold all 6,000 common shares of Liu for $66,300. Use negative signs with answers, when appropriate. Balance Sheet Transaction Cash Asset + Noncash Assets = Liabilities + Contributed Capital + Earned Capital (1) Answer Answer Answer Answer Answer (2) Answer Answer Answer Answer Answer (3) Answer Answer Answer Answer Answer (4) Answer Answer Answer Answer Answer Income Statement Revenue - Expenses = Net Income Answer Answer Answer Answer Answer Answer
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter13: Marketable Securities And Derivatives
Section: Chapter Questions
Problem 24P
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Question
Assessing Financial Statement Effects of Trading and Available-for-Sale Securities
Use the financial statement effects template to record the following four transactions involving investments in marketable securities.
- Purchased 6,000 common shares of Liu, Inc., at $12.25 cash per share.
- Received a cash dividend of $1.50 per common share from Liu.
- Year-end market price of Liu common stock is $11.25 per share.
- Sold all 6,000 common shares of Liu for $66,300.
Use negative signs with answers, when appropriate.
|
||||||||||
---|---|---|---|---|---|---|---|---|---|---|
Transaction | Cash Asset | + |
Noncash Assets |
= | Liabilities | + |
Contributed Capital |
+ |
Earned Capital |
|
(1) | Answer | Answer | Answer | Answer | Answer | |||||
(2) | Answer | Answer | Answer | Answer | Answer | |||||
(3) | Answer | Answer | Answer | Answer | Answer | |||||
(4) | Answer | Answer | Answer | Answer | Answer |
Income Statement
|
||||
---|---|---|---|---|
Revenue |
- |
Expenses |
= |
Net Income |
Answer | Answer | Answer | ||
Answer | Answer | Answer |
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