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Assessing Financial Statement Effects of Marketable Equity Securities Use the financial statement effects template to record the accounts and amounts for the following four transactions involving investments in marketable equity securities. a. Purchased 14,000 common shares of Heller Co. at $16 cash per share. b. Received a cash dividend of $1.25 per common share from Heller. c. Year-end market price of Heller common stock is $17.50 per share. d. Sold all 14,000 common shares of Heller for $220,920 cash. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. tion N/A N/A N/A N/A Cash Asset (224,000)✓ 17,500 ✓ xN/A 220,920✔ * N/A 0✔ + ✔ N/A * N/A Noncash Assets 224,000 0 * N/A = + ✔N/A 21,000 ✓= * N/A (171,500) x = + * N/A Balance Sheet Liabilities. 0 ✓ + ✔ N/A 0✓ 0 ✓ ✔ N/A ÷ ✔ N/A 0 ✓ ♦ ✔ N/A Contrib. Capital 0✔ 수 0✔ + 0✓ ✔ N/A 0✓ 수 ✔ N/A → ✔ N/A N/A Earned Capital 0✔ ♦ 17,500 ✓ + 1/A 21,000 ✓ M/A + N/A 49,420 x + 1/A Revenues Income Statement 0- ✔ N/A 17,500 + x N/A 21,000 ✓ + x N/A 49,420 x- → ✔ N/A Expenses = 0✓= ÷ 0✔ ✓ ✓ 0 ✓= ✔ 0x = + x Net Income 0✔ 17,500 ✓ 21,000 ✓ 49,420 x

Assessing Financial Statement Effects of Marketable Equity Securities Use the financial statement effects template to record the accounts and amounts for the following four transactions involving investments in marketable equity securities. a. Purchased 14,000 common shares of Heller Co. at $16 cash per share. b. Received a cash dividend of $1.25 per common share from Heller. c. Year-end market price of Heller common stock is $17.50 per share. d. Sold all 14,000 common shares of Heller for $220,920 cash. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. tion N/A N/A N/A N/A Cash Asset (224,000)✓ 17,500 ✓ xN/A 220,920✔ * N/A 0✔ + ✔ N/A * N/A Noncash Assets 224,000 0 * N/A = + ✔N/A 21,000 ✓= * N/A (171,500) x = + * N/A Balance Sheet Liabilities. 0 ✓ + ✔ N/A 0✓ 0 ✓ ✔ N/A ÷ ✔ N/A 0 ✓ ♦ ✔ N/A Contrib. Capital 0✔ 수 0✔ + 0✓ ✔ N/A 0✓ 수 ✔ N/A → ✔ N/A N/A Earned Capital 0✔ ♦ 17,500 ✓ + 1/A 21,000 ✓ M/A + N/A 49,420 x + 1/A Revenues Income Statement 0- ✔ N/A 17,500 + x N/A 21,000 ✓ + x N/A 49,420 x- → ✔ N/A Expenses = 0✓= ÷ 0✔ ✓ ✓ 0 ✓= ✔ 0x = + x Net Income 0✔ 17,500 ✓ 21,000 ✓ 49,420 x

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter11: Stockholders' Equity
Section: Chapter Questions
Problem 11.3DC
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Assessing Financial Statement Effects of Marketable Equity Securities Use the financial statement effects template to record the accounts and amounts for the following four transactions involving investments in marketable equity securities. a. Purchased 14,000 common shares of Heller Co. at $16 cash per share. b. Received a cash dividend of $1.25 per common share from Heller. c. Year-end market price of Heller common stock is $17.50 per share. d. Sold all 14,000 common shares of Heller for $220,920 cash. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. tion N/A N/A N/A N/A Cash Asset (224,000) 17,500 + 220,920 * N/A ◆ * N/A 0 N/A * N/A Noncash Assets 224,000 = = 21,000 * N/A 0✓ = ♦ = N/A * N/A (171,500) * = * N/A Balance Sheet Liabilities 0 0✔ 0 0 4 + > N/A N/A N/A N/A Contrib. Capital 0 0✔ 0 ♥ 0 (▶ + > N/A N/A N/A N/A Earned Capital 17,500 ✓ 21,000 ✓ 49,420 * N/A XI/A XI/A XI/A Revenues 17,500 ✓ 21,000 49,420 x Income Statement N/A X N/A * N/A N/A Expenses 0 0 0 0 x X Net Income 0 17,500 21,000 49,420 X
Transcribed Image Text:Assessing Financial Statement Effects of Marketable Equity Securities Use the financial statement effects template to record the accounts and amounts for the following four transactions involving investments in marketable equity securities. a. Purchased 14,000 common shares of Heller Co. at $16 cash per share. b. Received a cash dividend of $1.25 per common share from Heller. c. Year-end market price of Heller common stock is $17.50 per share. d. Sold all 14,000 common shares of Heller for $220,920 cash. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. tion N/A N/A N/A N/A Cash Asset (224,000) 17,500 + 220,920 * N/A ◆ * N/A 0 N/A * N/A Noncash Assets 224,000 = = 21,000 * N/A 0✓ = ♦ = N/A * N/A (171,500) * = * N/A Balance Sheet Liabilities 0 0✔ 0 0 4 + > N/A N/A N/A N/A Contrib. Capital 0 0✔ 0 ♥ 0 (▶ + > N/A N/A N/A N/A Earned Capital 17,500 ✓ 21,000 ✓ 49,420 * N/A XI/A XI/A XI/A Revenues 17,500 ✓ 21,000 49,420 x Income Statement N/A X N/A * N/A N/A Expenses 0 0 0 0 x X Net Income 0 17,500 21,000 49,420 X
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