Requirement General Journal General Ledger Trial Balance Fair Value Adj Transaction Analysis Fin St Impact For each transaction, indicate the change, if any, in total assets and total equity.  If equity changes, indicate whether the change was reflected as a component of net income, or directly within the stockholders' equity portion of the balance sheet.  Remember that the change in total assets must agree with the change in total equity.   Show less             Change in Change in equity:   Total assets As a component of net income As a direct component of stockholders' equity Total change in equity Apr. 16) Purchased 4,000 shares of Smith Co. stock at $30 per share. $0 $0   $0 Jul. 7) Purchased 2,500 shares of Edmunds Co. stock at $55 per share. 0     0 Jul. 20) Purchased 1,200 shares of Delray Co. stock at $22 per share. 0     0 Aug. 15) Received an $1.00 per share cash dividend on the Smith Co. stock.       0 Aug. 28) Sold 2,400 shares of Smith Co. stock at $33 per share.       0 Oct. 1) Received a $5.10 per share cash dividend on the Edmunds Co. shares.       0 Dec. 15) Received a $1.20 per share cash dividend on the remaining Smith Co. shares.       0 Dec. 31) Received a $4.50 per share cash dividend on the Edmunds Co. shares.       0 Dec. 31) Adjusted the securities to year-end fair value.       0 Totals $0 $0 $0 $0   Fair Value Adj Fin St Impact

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
  • Requirement
  • General Journal
  • General Ledger
  • Trial Balance
  • Fair Value Adj
  • Transaction Analysis
  • Fin St Impact

For each transaction, indicate the change, if any, in total assets and total equity.  If equity changes, indicate whether the change was reflected as a component of net income, or directly within the stockholders' equity portion of the balance sheetRemember that the change in total assets must agree with the change in total equity.

 

Show less
 
 
 
 
 
  Change in Change in equity:
  Total assets As a component of net income As a direct component of stockholders' equity Total change in equity
Apr. 16) Purchased 4,000 shares of Smith Co. stock at $30 per share. $0 $0   $0
Jul. 7) Purchased 2,500 shares of Edmunds Co. stock at $55 per share. 0     0
Jul. 20) Purchased 1,200 shares of Delray Co. stock at $22 per share. 0     0
Aug. 15) Received an $1.00 per share cash dividend on the Smith Co. stock.       0
Aug. 28) Sold 2,400 shares of Smith Co. stock at $33 per share.       0
Oct. 1) Received a $5.10 per share cash dividend on the Edmunds Co. shares.       0
Dec. 15) Received a $1.20 per share cash dividend on the remaining Smith Co. shares.       0
Dec. 31) Received a $4.50 per share cash dividend on the Edmunds Co. shares.       0
Dec. 31) Adjusted the securities to year-end fair value.       0
Totals $0 $0 $0 $0
 
  • Fair Value Adj
  • Fin St Impact
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps

Blurred answer
Knowledge Booster
Database design
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education