Question

Specify how each of the following items would be reported in the financial statements of Tingsley Enterprises for its current fiscal year. Also specify the amount that would appear on the statement. Some items may be reported on more than one financial statement. In these cases, specify the amount that would appear on each statement.
Income Statement (IS)
Balance Sheet (BS)
Change in Stockholders’ Equity (SE)
1.Tingsley Enterprises received $77 of dividends during the year on stock it owned in Jacob, Inc.
2. At year-end, Tingsley Enterprises owned a $4,000 US Treasury Bond.
3.Tingsley Enterprises sold stock for $420 cash that had been held as an available- for sale security. The stock had been purchased for $410 and hadn’t changed in value until the time of its sale.
4.Stock that Tingsley Enterprises purchased for $410 during the year as an available for sale security has a market value of $420 at the year-end balance sheet date.
5. Stock that Tingsley Enterprises purchased for $410 during the year as a trading security had a market value of $420 at the year-end balance sheet date.
6. $135 of interest earned on a bond that Tingsley Enterprises purchased from the State of New Jersey.



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  • CreatedApril 29, 2014
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