Homework Answers
( 1) The investments of Steelers Inc.
(A) Journalize the entry:
| Date | Account Name | Debit | Credit |
| Sep.12 | Investment - Bengals Inc Stock | $ 132,000 | |
| To Cash | $ 132,000 | ||
| ( 13,200 share × $10 per share) | |||
| Dec.31 | Unrealized Gain( Loss) on available for sale investment | $39,600 | |
| To valuation Allowance For Available for sale investment | $39,600 | ||
| [ 13200 share × ( $ 10 - $7) |
(B)
( 1) Stockholder's Equity section
Of
(2) the Balance Sheet
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