Question: Please apply the missing transactions in the tables On January 1, Ball Corporation purchased shares of Leftwich Company common stock. (a) Assume that the stock

Please apply the missing transactions in the tables

Please apply the missing transactions in the tables On January 1, Ball

On January 1, Ball Corporation purchased shares of Leftwich Company common stock. (a) Assume that the stock acquired by Ball represents 15% of Leftwich's voting stock and that Ball has no influence over Leftwich's business deci to record the following transactions: (1) Ball purchased 10,000 common shares of Leftwich at $12 cash per share. (2) Leftwich reported annual net income of $70,000. (3) Ball received a cash dividend of $1.20 per common share from Leftwich. (4) Year-end market price of Leftwich common stock is $19 per share. Use negative signs with answers, when appropriate. Balance Sheet Income Statement Noncash Contributed Earned Net Transaction Cash Asset Assets = Liabilities Capital Capital Revenue Expenses = Income O (1) 0 0 0 0 0 0 0 (2) 0 0 0 0 0 (3) O 0 0 0 O O O O O O O (4 ) 0 0 0 (b) Assume that the stock acquired by Ball represents 30% of Leftwich's voting stock and that Ball accounts for this investment using the equity n influence. Use the financial statement effects template to record the following transactions: (1) Ball purchased 10,000 common shares of Leftwich at $12 cash per share. (2) Leftwich reported annual net income of $70,000. (3) Ball received a cash dividend of $1.20 per common share from Leftwich. (4) Year-end market price of Leftwich common stock is $19 per share. Use negative signs with answers, when appropriate. Balance Sheet Income Statement Noncash Contributed Earned Net Transaction Cash Asset + Assets Liabilities Capital Capital Revenue Expenses = Income (1) 0 0 O 0 0 0 (2) O 0 0 O 0 (3) o o O o O O O 0 0 O O O O O O (4) O 0 0

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