HAPTER 10 HOMEwORK PREVIOUS 4NEXT roblem 3:P10-19A Background Assignament: ratio
ID: 2522846 • Letter: H
Question
HAPTER 10 HOMEwORK PREVIOUS 4NEXT roblem 3:P10-19A Background Assignament: ration generated excess cash and used it to invest in various 1) Using the General lournal tab, click Add Transaction to ransactions section below. The equity investments leted all represent less than 20% of the outstanding voting stock of the investee related to duded in thejourn hurmaltize nach transction Cliet hat rnsaction once you complete the entry, then repeat these steps for each transaction. 2) Click the Reports tab and review the results of recording these transactions on the Generaf Ledger 3) Click Submit Work when complete. Transactions: 07/o2/2018 Purchased 4,200 shares of Pogo, Inc. common stock for $12.00 per share. Jetway plans to sell the stock within three moniths, whena the company will need the cash for normal operations. Jetway does not have nt infuence over Pogo. 08/21/2018 Recerved a cash dividend of $.80 per share on the Pogo stock investment. 09/16/2018 Sold the Pogo stock for $13.40 per share. SAVE WORK RESET RESULTS SUBMET WORK July 1, 2018 December 31, 2018 COMPANY INFORMATION 1 O ART OF ACCOUNTS 1 GENERAL JOURNAL Creda No transactions in Journal and WindowsExplanation / Answer
Date Particulars Dr. Amount Credit Amount 07/02/2018 Investments in shares of Pogo Inc A/c Dr. 50400 To Cash/Bank 50400 (Being Shares purchsed ) 08/21/2018 Cash A/c Dr. 3360 To Dividend Income A/c 3360 (Being dividend income recieved) 09/16/2018 Cash/Bank A/c Dr. 56280 To Invesment in Pogo Inc. 50400 To Profit on sale of investments 5880 (Being Investments Sold) 10/01/2018 Investments in Violet Bond A/c Dr. 20000 To Cash/Bank A/c 20000 (Being Investments Purchsed) 12/31/2018 cash A/c Dr. 100 To Interest Income A/c 100 (being Interest Recieved) 12/312018 Investments in Violet Bond a/c Dr. 2000 To Profit on readjustment A/c 2000 (Being profit recorded on readjustment)
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