Question: **Please only answer the red box at the bottom. **Please only answer the red box at the bottom. Teal Corp. invested its excess cash in
**Please only answer the red box at the bottom. 
**Please only answer the red box at the bottom.
Teal Corp. invested its excess cash in securities during 2020 . As of December 31,2020 , the securities portfolio consisted of the following common stocks. (a) Your answer is correct. What should be reported on Teal's December 31, 2020, balance sheet relative to these securities? What should be reported on Teal's 2020 income statement? (If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Your answer is correct. On December 31, 2021, Teal's securities portfolio consisted of the following common stocks. During the year 2021. Teal Corp. sold 2,100 shares of Poley Corp. for $38,300 and purchased 2,100 more shares of Lindsay Jones, Inc. and 1,000 shares of Duff Company. What should be reported on Teal's December 31, 2021, balance sheet? What should be reported on Teal's 2021 income statement? (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Your answer is correct. On December 31, 2021, Teal's securities portfolio consisted of the following common stocks. During the year 2021. Teal Corp. sold 2,100 shares of Poley Corp. for $38,300 and purchased 2,100 more shares of Lindsay Jones, Inc. and 1,000 shares of Duff Company. What should be reported on Teal's December 31, 2021, balance sheet? What should be reported on Teal's 2021 income statement? (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) On December 31, 2022, Teal's securities portfolio consisted of the following common stocks. During the year 2022, Teal Corp. sold 3,100 shares of Lindsay Jones, Inc. for $39,600 and 500 shares of Duff Company at a loss of $2,700. What should be reported on the face of Teal's December 31, 2022, balance sheet? What should be reported on Teal's 2022 income statement? (If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
