15-1A_23e - Cash 18,000 Investment in Tasmania Co Stock...

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Problem 15-1A Name: Angie Sparling Section: ACCT 212 Enter the appropriate account titles and amounts in the shaded cells below. A red asterisk (*) will appear to the right of an incorrect amount in the outlined cells. 1. 2010 Jan. 3 Available-for-Sale Investments - Whalen Inc. 138,000 Cash 138,000 July 6 6 Cash 3,600 Dividend Revenue 3,600 Oct. 14 Cash 22,450 Gain on Sale of Investments 1,750 Available-for-Sale Investments - Whalen Inc. 20,700 Dec. 9 Cash 3,060 Dividend Revenue 3,060 31 Unrealized Gain (Loss) on Available-for-Sale Investments 10,200 Valuation allowance for Available-for-Sale Investments 10,200 2011 Jan. 5 Investment in Tasmania Co. Stock 620,000 Cash 620,000 July 8 Cash 3,570 Dividend Revenue 3,570 Dec. 8 Cash 4,335 Dividend Revenue 4,335 31
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Unformatted text preview: Cash 18,000 Investment in Tasmania Co. Stock 18,000 31 Investment in Tasmania Co. Stock 29,600 Income of Tasmania Co. 29,600 31 Valuation allowance for Available-for-Sale Investments 15,300 * Unrealized Gain (Loss) on Available-for-Sale Investments 15,300 * 2. ROMAN PRODUCTS, INC. Balance Sheet (selected items) December 31, 2011 Current assets: Available-for-sale investments (at cost) $117,300 Plus valuation allowance for available-for-sale investments 15,300 Available-for-sale investments (at fair value) $132,600 Noncurrent assets: Investment in Tasmania Co. stock $631,600 Stockholders' equity: Retained Earnings $455,000 Plus unrealized gain (loss) on available-for-sale investments 15,300...
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