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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
A-6
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F938f9c94-9427-41e8-9664-38fc73452a63%2Fec8f4fa1-cd22-4861-952f-90cdb4a9abac%2Fqpb53a7_processed.png&w=3840&q=75)
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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