Sociology homework help
Sociology homework help. The following selected transactions relate to investment activities of Joshua Skateboarding Corporation during 2019. The company buys equity securities as noncurrent investments. None of Joshua’s investments are large enough to exert significant influence on the investee. Joshua’s fiscal year ends on December 31. No investments were held by Joshua on December 31, 2018.March 31 Acquired Skate Park Company common stock for $400,000.Sep. 1 Acquired $900,000 of Board Wheels Inc. common stock.Sep. 30 Received a $16,000 dividend on the Skate Park Company common stock.Oct. 2 Sold the Skate Park common stock for $425,000.Nov. 1 Purchased $1,400,000 of Snoopy Boards common stock.Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are: Board Wheels common stock $ 850,000 Snoopy Boards common stock $1,460,000 Required:1. Prepare the appropriate journal entry for each transaction or event during 2019, as well as any adjusting entry necessary at year-end.2. Indicate any amounts that Joshua Skateboarding would report in its 2019 income statement, 2019 statement of comprehensive income, and 12/31/2019 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments.
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