E10-12 (similar to) now All Investments completed the following Investment trans

Question

E10-12 (similar to) now All Investments completed the following Investment transactions during 2018 (Clc the loon to view the ransactions) Question Help 0818 1 Requirement 2. Classity and prepare a parial balance sheeltl for Know Air's Neutron investment as of December 31, 2018. (Use a minus sign or parentheses to enter a loss. If a box is not used in the balance sheet, leave the box empty, do not select a label or enter a zero Balance Sheet (Partial December 31, 2018 tions 5 10 1425 Current Assets 40,500 Choose trom any list or ener any number in the inut feids and then click Check Answer Clear A command

Explanation / Answer

Note: Select appropriately from the drop-down since the same is not provided with the question.

Working:

AFS Investment in Neutron = 900 x $55 = $49500

Unrealized gain (loss) on investment 900 x ($57 - $55) = -$1800

Know All Investments Balance Sheet (Partial) December 31, 2018 Current Assets: Long-term Assets: AFS Investment in Neutron $49,500 Stockholders' Equity Accumulated Other Comprehensive Income Unrealized gain (loss) on investment ($1,800)

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