Top Team Investments completed the following transactions during 2024 (Click the icon to view the...
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Top Team Investments completed the following transactions during 2024 (Click the icon to view the transactions.) Requirements 1. Journalize Top Team's transactions. Explanations are not required 2. Classify and prepare partial financial statements for Top Team's 35% Robotic investment for the year ended December 31, 2024. Requirement 1. Journalize Top Team's transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no entry is required, select "No entry required" on the first line of the Accounts column and leave the remaining cells blank) Jan. 14: Purchased 1,200 shares of Robotic stock, paying $44 per share. The investment represents 35% ownership in Robotic's voting stock and Top Team has significant influence over Robotic. Top Team intends to hold the investment for the indefinite future. Date Accounts Debit Credit Jan 14 i More Info Purchased 1,200 shares of Robotic stock, paying 44 per share. The investment represents 35% ownership in Robotic's voting stock and Top Team has significant influence over Robotic. Top Team intends to hold Jan. 14 the investment for the indefinite future. Aug. 22 Received a cash dividend of $0.67 per share on the Robotic stock. Dec. 31 Robotic's current market value of $41 per share. Dec. 31 Robotic reported net income of $500,000 for the year ended 2024


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