Post to the investment accounts. (Use separate T-accounts for each investment.) (For accounts with zero balance select "12/31 Bal." from the list and enter "0" or leave it blank.)

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Question

Post to the investment accounts. (Use separate T-accounts for each investment.) (For accounts with zero balance select "12/31 Bal." from the list and enter "0" or leave it blank.)

Here is Marigold Company’s portfolio of long-term stock investments at December 31, 2021, the end of its first year of operations.

		Cost
1,680	shares of Batone Inc. common stock	$88,200
1,440	shares of Mendez Corporation common stock	100,800
960	shares of P. Tillman Corporation preferred stock	40,320

On December 31, the total cost of the portfolio equaled the total fair value. Marigold had the following transactions related to the securities during 2022.

Jan.

20

Sold 1,680 shares of Batone Inc. common stock at $55 per share.

28

Purchased 480 shares of $10 par value common stock of P. Wahl Corporation at $78 per share.

30

Received a cash dividend of $1.25 per share on Mendez Corporation common stock.

Feb.

8

Received cash dividends of $0.40 per share on P. Tillman Corporation preferred stock.

18

Sold all 960 shares of P. Tillman preferred stock at $35 per share.

July

30

Received a cash dividend of $1.10 per share on Mendez Corporation common stock.

Sept.

6

Purchased an additional 720 shares of the $10 par value common stock of P. Wahl Corporation at $82 per share.

Dec.

1

Received a cash dividend of $1.50 per share on P. Wahl Corporation common stock.

At December 31, 2022, the fair values of the securities were:

Mendez Corporation common stock

$65 per share

P. Wahl Corporation common stock

$77 per share

Marigold uses separate account titles for each investment, such as Investment in Mendez Corporation Common Stock.

(a)

Correct answer iconYour answer is correct.

Prepare journal entries to record the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date

Account Titles and Explanation

Debit

Credit

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title to record the transactions on february 18

enter a debit amount

enter a credit amount

enter an account title to record the transactions on february 18

enter a debit amount

enter a credit amount

enter an account title to record the transactions on february 18

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

eTextbook and Media

Assistance Used

List of Accounts

Attempts: 2 of 3 used

(b1)

New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is partially correct.

Post to the investment accounts. (Use separate T-accounts for each investment.) (For accounts with zero balance select "12/31 Bal." from the list and enter "0" or leave it blank.)

Investment in Batone Inc. Common Stock
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance

Investment in Mendez Corporation Common Stock
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance

Investment in P. Tillman Corporation Preferred Stock
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance

Investment in P. Wahl Corporation Common Stock
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance

accounting

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Post to the investment accounts. (Use separate T-accounts for each investment.) (For accounts with zero balance select "12/31 Bal." from the list and enter "0" or leave it blank.)

(a)

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Post to the investment accounts. (Use separate T-accounts for each investment.) (For accounts with zero balance select "12/31 Bal." from the list and enter "0" or leave it blank.)

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Post to the investment accounts. (Use separate T-accounts for each investment.) (For accounts with zero balance select "12/31 Bal." from the list and enter "0" or leave it blank.)

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Post to the investment accounts. (Use separate T-accounts for each investment.) (For accounts with zero balance select "12/31 Bal." from the list and enter "0" or leave it blank.)