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Prove the accuracy of your responses on the Transaction Analysis tab by selecting the account titles reported on the income statement or as a component of stockholders' equity. On the transaction analysis tab, you indicated that total income changed by: Select the income statement account balances that prove this amount: Total net income

Prove the accuracy of your responses on the Transaction Analysis tab by selecting the account titles reported on the income statement or as a component of stockholders' equity. On the transaction analysis tab, you indicated that total income changed by: Select the income statement account balances that prove this amount: Total net income

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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GL1501 (Algo) - Based on Problem 15-4A LO P4 STO Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April 16 Purchased 5,500 shares of Arnold Company stock at $27 per share. Purchased 4,000 shares of Haven Company stock at $52 per share. Purchased 1,800 shares of Kohler Company stock at $19 per share. Received an $1.30 per share cash dividend on the Arnold Company stock. Sold 3,300 shares of Arnold Company stock at $30 per share. August 15 August 28 October 1 December 15 Received a $1.60 per share cash dividend on the remaining Arnold Company shares. December 31 Received a $3.30 per share cash dividend on the Haven Company shares. Received a $3.90 per share cash dividend on the Haven Company shares. July 7 July 20 Requirement General Journal General Ledger Total net income X Answer is not complete. Trial Balance Fair Value Adjustment On the transaction analysis tab, you indicated that total income changed by: Select the income statement account balances that prove this amount: Prove the accuracy of your responses on the Transaction Analysis tab by selecting the account titles reported on the income statement or as a component of stockholders' equity. Transaction Analysis $ 23,120 Transaction Analysis 0 0 0 Financial Statement Impact Financial Statement Impact
Transcribed Image Text:GL1501 (Algo) - Based on Problem 15-4A LO P4 STO Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April 16 Purchased 5,500 shares of Arnold Company stock at $27 per share. Purchased 4,000 shares of Haven Company stock at $52 per share. Purchased 1,800 shares of Kohler Company stock at $19 per share. Received an $1.30 per share cash dividend on the Arnold Company stock. Sold 3,300 shares of Arnold Company stock at $30 per share. August 15 August 28 October 1 December 15 Received a $1.60 per share cash dividend on the remaining Arnold Company shares. December 31 Received a $3.30 per share cash dividend on the Haven Company shares. Received a $3.90 per share cash dividend on the Haven Company shares. July 7 July 20 Requirement General Journal General Ledger Total net income X Answer is not complete. Trial Balance Fair Value Adjustment On the transaction analysis tab, you indicated that total income changed by: Select the income statement account balances that prove this amount: Prove the accuracy of your responses on the Transaction Analysis tab by selecting the account titles reported on the income statement or as a component of stockholders' equity. Transaction Analysis $ 23,120 Transaction Analysis 0 0 0 Financial Statement Impact Financial Statement Impact
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