Chapter 10, Problem 10.13E

1.

To determine

Significant interest investments:

Significant interest investments are the equity securities, where the investor holds in between 20% to 50% of the voting stock. These securities are reported as long-term assets in the balance sheet.

To Journalize: The transactions of GB Investments’ in S’s stock for the year 2016.

2.

To determine

To classify and prepare: The partial financial statement for GB Investments’ on S’s stock of 25% as of December 31, 2016.