Mail 4 You completed these long-term available-for-sale investment transactions during 2012: 1. Journalize Mail 4 Yous investment

Question:

Mail 4 You completed these long-term available-for-sale investment transactions during 2012:

1. Journalize Mail 4 You€™s investment transactions. Explanations are not required.
2. Assume the Tycon stock is Mail 4 You€™s only investment. Explain how these transactions will be reflected on Mail 4 You€™s Income Statement and its Statement of Other Comprehensive Income.
3. Show how to report the investment and any unrealized gain or loss on Mail 4 You€™s balance sheet at December 31, 2012. Ignore incometax.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...