STO Corporation had no short-term investments prior to this year. It had the following transactions this...

 

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STO Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. July 7 July 20 August 15 August 28 April 16 Purchased 5,500 shares of Arnold Company stock at $27 per share. Purchased 4,000 shares of Haven Company stock at $52 per share. Purchased 1,800 shares of Kohler Company stock at $19 per share. Received an $1.30 per share cash dividend on the Arnold Company stock. Sold 3,300 shares of Arnold Company stock at $30 per share. October 1 Received a $3.90 per share cash dividend on the Haven Company shares. December 15 Received a $1.60 per share cash dividend on the remaining Arnold Company shares. December 31 Received a $3.30 per share cash dividend on the Haven Company shares. Requirement Answer is not complete. General Journal General Ledger Trial Balance Fair Value Adjustment Transaction Analysis Financial Statement Impact For each transaction, indicate the change, if any, in total assets and total equity. If equity changes, indicate whether the change was reflected as a component of net income, or directly within the stockholders' equity portion of the balance sheet. Remember that the change in total assets must agree with the change in total equity. April 16) Purchased 5,500 shares of Arnold Company stock at $27 $ Change in Change in equity: As a direct Total assets As a component component Total of of net stockholders' change in equity income equity $ 148,500 S 148,500 Show less A STO Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. July 7 July 20 August 15 August 28 April 16 Purchased 5,500 shares of Arnold Company stock at $27 per share. Purchased 4,000 shares of Haven Company stock at $52 per share. Purchased 1,800 shares of Kohler Company stock at $19 per share. Received an $1.30 per share cash dividend on the Arnold Company stock. Sold 3,300 shares of Arnold Company stock at $30 per share. October 1 Received a $3.90 per share cash dividend on the Haven Company shares. December 15 Received a $1.60 per share cash dividend on the remaining Arnold Company shares. December 31 Received a $3.30 per share cash dividend on the Haven Company shares. Requirement Answer is not complete. General Journal General Ledger Trial Balance Fair Value Adjustment Transaction Analysis Financial Statement Impact For each transaction, indicate the change, if any, in total assets and total equity. If equity changes, indicate whether the change was reflected as a component of net income, or directly within the stockholders' equity portion of the balance sheet. Remember that the change in total assets must agree with the change in total equity. April 16) Purchased 5,500 shares of Arnold Company stock at $27 $ Change in Change in equity: As a direct Total assets As a component component Total of of net stockholders' change in equity income equity $ 148,500 S 148,500 Show less A

Answer rating: 100% (QA)

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