Business, 01.12.2021 02:40 SignoraPenguino
1. Journalize Postage People ​Company's investment transactions. Explanations are not required. ​(Record debits​ first, then credits. Exclude explanations from any journal​ entries.) Apr​ 10: Purchased 500 shares of Robotics stock​ (less than 15​% of Robotics​'s outstanding​ stock), paying ​$19 per share. Postage People Company intends to hold the investment indefinitely. Journal Entry Date Accounts Debit Credit Apr 10 Jul​ 22: Received a cash dividend of ​$1.24 per share on the Robotics stock. Journal Entry Date Accounts Debit Credit Jul 22 Dec​ 31: Adjusted the Robotics investment to its current market value of $5,300. Journal Entry Date Accounts Debit Credit Dec 31 2. Assume the Robotics stock is Postage People ​Company's only investment. Explain how these transactions will be reflected on Postage People ​Company's income statement for the year ended December​ 31, 2021. The income statement will report of and of . 3. Show how to report the investment on Postage People ​Company's balance sheet at December​ 31, 2021. Ignore income taxes. ​(Use a parentheses or a minus sign when entering​ losses.) Postage People Inc. Balance Sheet (Partial) December 31, 2021 Assets Long-term assets
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