Green back investments completed the following investment transaction during 2018: ...
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Green back investments completed the following investment transaction during 2018:
Jan. 14 Purchased 900 shares of Microscape stock, paying $57 per share. The investment represents 2% ownership in Microscape's voting stock. Green Back does not have significant influence over Microscape. Green Back intends to hold the investment for the indefinite future. Aug. 22 Received a cash dividend of $0.28 per share on the Microscape stock. Dec. 31 Adjusted the investment to its current market value of $55 per share. 31 Microscape reported net income of $400,000 for the year ended 2018. 1. Journalize Green Back's investment transactions. Explanations are not required. 2. Classify and prepare a partial balance sheet for Green Back's Microscape investment as of December 31, 2018. 3. Prepare a partial income statement for Green Back Investments for year ended December 31, 2018. Jan 14 Purchased 900 shares of Microeck, pay $57 The presents who in Microcapes voire lock lace des acte Microme Grace intend to the investment for the indir Da Accounts Deb Credit Jan 14 Aug 22 Recetat dividend of $0.20 per on the Mack Accounts Debit Dale Credit ALG Dec. 31: Adjusted the investment to its current market value of $55 per share. Date Accounts Debit Credit Dec. 31 Dec. 31: Microscape reported net income of $400,000 for the year ended 2018. Date Accounts Debit Credit Dec. 31 Requirement 2 Classify and prepare a partial balance sheet for Green Back's Microscape investment as of December 31, 2018 box empty, do not select a label or enter a zero.) Green Back Investments Balance Sheet (Partial) December 31, 2018 Current Assets Long-term Assets Stockholders' Equity Accumulated Other Comprehensive Income Stockholders' Equity Accumulated Other Comprehensive Income: Requirement 3. Prepare a partial income statement for Green Back Investments for year ended December 31, 2018 Green Back Investments Income Statement (Partial) For the Year Ended December 31, 2018 Other Income and (Expenses)






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