Question: Please explain your question. Thank you! Learning Objective 3 E10-14 Accounting for equity investments Money Man Investments completed the following transactions during 2018: 1. Revenue

Please explain your question. Thank you! Learning Objective 3 E10-14 Accounting for equity investments Money Man Investments completed the following transactions during 2018:

Please explain your question. Thank you!

Learning Objective 3 E10-14 Accounting for equity investments Money Man Investments completed the following transactions during 2018: 1. Revenue from Investments CR $45,000 Jan. 14 Purchased 400 shares of Technomite stock, paying $56 per share. The investment represents 25% ownership in Technomite's voting stock and Money Man has significant influence over Technomite. Money Man intends to hold the investment for the indefinite future. Received a cash dividend of $0.27 per share on the Technomite stock. Technomite's current market value is $51 per share. Technomite reported net income of $180,000 for the year ended 2018. Aug. 22 Dec. 31 31 Requirements 1. Journalize Money Man's transactions. Explanations are not required. 2. Classify and prepare partial financial statements for Money Man's 25% Technomite investment for the year ended December 31, 2018

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