5 Required information[The following information applies to the questions displayed below.]Rose Company 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 10,000 shares of Gem Company stock at $21.25 per share.July 7Purchased 5,000 shares of PepsiCo stock at $53.00 per share.Purchased 2,500 shares of Xerox stock at $17.00 per share.July 20August 15August 28 Sold 5,000October 1 Received aDecember 15 Received aReceived a $0.85 per share cash dividend on the Gem Company stock.shares of Gen Company stock at $28.00 per share.$1.90 per share cash dividend on the PepsiCo shares.$1.00 per share cash dividend on the remaining Gem Company shares.December 31 Received a $1.30 per share cash dividend on the PepsiCo shares.The year-end fair values per share are Gem Company, $23.50; PepsiCo, $50.25; and Xerox, $14.00.5. Identify the dollar increase or decrease from Rose's short-term stock investments on (a) its income statement for this year and (b) theequity section of its balance sheet at this year-end.(a) Income statement for this year(b) The equity section of its balance sheet at this year-endAmount Increase or Decrease

Short-term investments are the instruments that are held for the purpose of short-term gain due to…

Rose Company 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 10,000 shares of Gen Company stock at $21.25 per share. July 7 Purchased 5,000 shares of PepsiCo stock at $53.00 per share. Purchased 2,500 shares of Xerox stock at $17.00 per share. July 20 August 15 Received a $0.85 per share cash dividend on the Gem Company stock. August 28 Sold 5,000 shares of Gen Company stock at $28.00 per share. October 1 Received a $1.90 per share cash dividend on the PepsiCo shares. December 15 Received a $1.00 per share cash dividend on the remaining Gem Company shares. December 31 Received a $1.30 per share cash dividend on the PepsiCo shares. The year-end fair values per share are Gem Company, $23.50; PepsiCo, $50.25; and Xerox, $14.00. 5. Identify the dollar increase or decrease from Rose's short-term stock investments on (a) its income statement for this year and (b) the equity section of its balance sheet at this year-end.

Rose Company 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 10,000 shares of Gen Company stock at $21.25 per share. July 7 Purchased 5,000 shares of PepsiCo stock at $53.00 per share. Purchased 2,500 shares of Xerox stock at $17.00 per share. July 20 August 15 Received a $0.85 per share cash dividend on the Gem Company stock. August 28 Sold 5,000 shares of Gen Company stock at $28.00 per share. October 1 Received a $1.90 per share cash dividend on the PepsiCo shares. December 15 Received a $1.00 per share cash dividend on the remaining Gem Company shares. December 31 Received a $1.30 per share cash dividend on the PepsiCo shares. The year-end fair values per share are Gem Company, $23.50; PepsiCo, $50.25; and Xerox, $14.00. 5. Identify the dollar increase or decrease from Rose's short-term stock investments on (a) its income statement for this year and (b) the equity section of its balance sheet at this year-end.

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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