11 7 21 3 10 PM Appendix E F Investment Chapters Homework Grade Khoa Nguyen Student Khoa Nguyen Date 11 07 21 Instructor Alexander Sueiro Course ACG2021 Fall 2021 Sueiro Assignment Appendix E F Investment Chapters Homework Grade 1 Ship Your Way 1 Click the icon to view the transactions Company completed these long term equity investment transactions during 2018 Read the requirements 2 1 Journalize credits Exclude explanations from any journal entries Ship Your Way Company s investment transactions Explanations are not required Record debits first then Apr 10 Purchased Ship Your Way shares of of Company intends to hold the investment indefinitely stock less than Microscape 500 5 Microscape s outstanding stock paying per share 16 Date Apr 10 Investment in Equity Securities Cash Journal Entry Accounts Debit Credit 8 000 8 000 Jul 22 Received a cash dividend of 1 23 per share on the Microscape stock Date Jul 22 Cash Dividend Revenue Journal Entry Accounts Debit Credit 615 615 Dec 31 Adjusted the Microscape investment to its current market value of 5 200 Date Dec 31 Unrealized Loss on Equity Securities Investment in Equity Securities Accounts Debit Credit 2 800 2 800 2 Assume the reflected on Microscape Ship Your Way stock is Company s income statement for the year ended December 31 Ship Your Way Company s only investment Explain how these transactions will be 2018 The income statement will report dividend revenue of 615 and unrealized loss of 2 800 3 Show how to report the investment on taxes Use a parentheses or a minus sign when entering losses Ship Your Way Company s balance sheet at December 31 2018 Ignore income https xlitemprod pearsoncmg com api v1 print highered 1 12 11 7 21 3 10 PM Appendix E F Investment Chapters Homework Grade Khoa Nguyen Ship Your Way Inc Balance Sheet Partial December 31 2018 Investment in Equity Securities 5 200 Assets Long term assets 1 Data Table 2018 2 Requirements income taxes Apr 10 Purchased 500 shares of Microscape stock less than 5 of Microscape s outstanding stock paying 16 per share Ship Your Way Company intends to hold the investment indefinitely Jul 22 Received a cash dividend of 1 23 per share on the Microscape stock Dec 31 Adjusted the Microscape investment to its current market value of 5 200 1 Journalize Ship Your Way Company s investment transactions Explanations are not required 2 Assume the reflected on Microscape Ship Your Way stock is Ship Your Way Company s only investment Explain how these transactions will be Company s income statement for the year ended December 31 2018 3 Show how to report the investment on Ship Your Way Company s balance sheet at December 31 2018 Ignore https xlitemprod pearsoncmg com api v1 print highered 2 12 11 7 21 3 10 PM Appendix E F Investment Chapters Homework Grade Khoa Nguyen 2 Company completed these long term equity investment transactions and recorded the following journal 2018 Delivery King entries during 4 3 Click the icon to view the transactions Click the icon to view the journal entries On May 21 Company sold its investment in 2019 Delivery King per share stock for Neutron 25 Read the requirements 5 1 Journalize the sale No explanation is required Record debits first then credits Exclude explanations from any journal entries Date May 21 Cash Journal Entry Accounts Investment in Equity Securities Gain on Sale of Equity Securities Debit Credit 7 500 5 400 2 100 2 How does the gain or loss that you recorded here differ from the gain or loss that was recorded at December 31 2018 This gain on sale of investment is a n realized gain The loss recorded at December 31 2018 was unrealized because it resulted from a change in the investment s market value and not from the sale of the investment 3 Data Table 2018 4 Reference Apr 10 Purchased 300 shares of Neutron stock less than 10 of Technomite s outstanding stock paying 22 per share Delivery King Company intends to hold the investment indefinitely Jul 22 Received a cash dividend of 1 26 per share on the Neutron stock Dec 31 Adjusted the Neutron investment to its current market value of 5 400 Date Accounts Debit Credit Journal Entry Journal Entry Accounts Apr 10 Investment in Equity Securities Cash Jul 22 Cash Dividend Revenue Date Date Dec 31 Unrealized Loss on Equity Securities Investment in Equity Securities 5 Requirements 6 600 6 600 Debit Credit 378 1 200 378 1 200 Journal Entry Accounts Debit Credit https xlitemprod pearsoncmg com api v1 print highered 3 12 11 7 21 3 10 PM Appendix E F Investment Chapters Homework Grade Khoa Nguyen 1 Journalize the sale No explanation is required 2 How does the gain or loss that you recorded differ from the gain or loss that was recorded at December 31 2018 3 1 January 2018 Top Motors paid 20 On million and paid cash dividends of 6 Click the icon to view the Equity Method Investment T account On Motors gain or loss on the sale Use parentheses or a minus sign when showing a loss 40 investment in 2018 Motors sold half of its investment in 460 million during million for a 2019 Top Motors January Yuza Yuza 1 Motors The sale price was 155 million Calculate Top Yuza earned net income of 70 Sale proceeds Carrying amount of investment Gain loss on sale of investment 155 million 240 million 85 million 6 Reference Equity Method Investment Purchase Net Income Balance 460 480 28 Dividends received 8 4 Haddock Interest is paid semiannually and the bonds will mature in Corp purchased fifteen 1 000 3 bonds of Circuit seven years Corporation when the market rate of interest was 14 Using the PV function in all payments of interest and principal occur at the end of the period Round your answer to the nearest cent paid the present value for the bond investment Assume that compute the price Haddock Excel Haddock paid 7 784 99 on the bond investment 5 Wesson Leasing leased a car to a customer Wesson will receive 400 a month at the end of each month for 48 months Use the PV function in 1 What is the present value of the lease if the annual interest rate in the lease is to calculate the answers to the following questions Excel 9 2 What is the present value of the lease if the car can likely be sold for 5 000 at the end of four years 1 What is the present value of the lease if the annual interest rate in the lease is computations but round your final answer to the nearest cent 9 Do not round intermediary The present value of the lease is 16 073 91 2 What is the present value of the lease if the car can likely be sold for intermediary