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At the end of its first year, the trading securities
portfolio consisted of the following common...
At the end of its first year, the trading securities portfolio consisted of the following common stocks. Cost_ Fair...
At the end of its first year, the trading securities portfolio consisted of the following common stocks. Cost_ Fair Value Pow Corporation $ 146,500 $ 150,000 Bun Inc. 165,000 158,000 Ghost Corporation 180,000 176,400 $491,500 $484,400 The unrealized loss to be recognized under the fair value method is a. $7,150. $7,100 $5,100. $7,600.
At the end of its first year, the trading securities portfolio consisted of the following common...
At the end of its first year, the trading securities portfolio consisted of the following common stocks. Cost Market Able Corporation $ 46,400 $ 50,000 Baker Inc. 60,000 53,800 Cole Corporation 80,000 76,000 $186,400 $179,800 107. The unrealized loss to be recognized under the fair value method is a. $6,200. b. $10,200. c. $6,600. d. $4,000 108. In the following year, the Baker common stock is sold for cash proceeds of $58,000. The gain or loss to be recognized on...
Stock Inv Stock Investments Loss on Sale of Stock Investments Cash.. . d. 25% of the...
Stock Inv Stock Investments Loss on Sale of Stock Investments Cash.. . d. 25% of the common stock of an investee company is purchased as a long-term investment, the appropriate method of accounting for the investment is a. the cost method. b. the equity method. C. the preparation of consolidated financial statements. d. determined by agreement with whomever owns the remaining 90% of the stock, 6) On January 1, 2020, Jamestina Corp. paid $1,800,000 for 100,000 shares of Belinda Company's...
During 2019 the trading securities portfolio held by the Edelman Corporation consisted of the following investments...
During 2019 the trading securities portfolio held by the Edelman Corporation consisted of the following investments: 1. 2. 2,000 shares of Bauer common stock purchased for $80,000. 1,500 shares of Snow common stock purchased for $60,000. At December 31, 2019, the fair values per share were Bauer $36 and Snow $45. Instructions (a) Prepare a schedule showing the cost and fair value of the portfolio at December 31, 2019. Investment Cost 80,000 60, 6 Oo Fair Value Unrealized Gain /...
Last Unguaranteed Financial Inc. purchased the following trading securities during Year 1, its first year of...
Last Unguaranteed Financial Inc. purchased the following trading securities during Year 1, its first year of operations: Name Number of Shares Cost Arden Enterprises Inc. 4,800 $134,400 French Broad Industries Inc. 2,660 58,520 Pisgah Construction Inc. 1,670 106,880 Total $299,800 The market price per share for the trading security portfolio on December 31, Year 1, was as follows: Market Price per Share, Dec. 31, Year 1 Arden Enterprises Inc. $34 French Broad Industries Inc. 27 Pisgah Construction Inc. 60 Required:...
Fair Value Journal Entries, Trading Investments Jets Bancorp Inc. purchased a portfolio of trading securities during...
Fair Value Journal Entries, Trading Investments Jets Bancorp Inc. purchased a portfolio of trading securities during 2073. The cost and fair value of this portfolio on December 31, 20Y3, was as follows: Name Number of Shares Total Cost Total Fair Value Dolphins Inc. Marino Company 1,600 1,400 $28,800 35,000 21,000 $32,000 30,800 Namath Company 600 19,800 Total $84,800 $82,600 Journalize the entry to record the adjustment of the trading security portfolio to fair value on December 31, 20Y3. If an...
8) Bonda Corporation's trading portfolio at the end of the year is as follows: Security Cost...
8) Bonda Corporation's trading portfolio at the end of the year is as follows: Security Cost Fair Value Common Stock CSS $110,000 $112,000 Common Stock AAD 19.000 15,000 $129.000 $127.000 At the end of the year, Bonda Corporation should a. set up a Fair Value Adjustment account for Stock AAD. b. set up a Fair Value Adjustment account for the portfolio c. recognize an Unrealized Loss -Income for $2,000. d. report a loss on the income statement for $4.000 under...
8 Fair Value Journal Entries, Trading Investments Gruden Bancorp Inc. purchased a portfolio of trading securities...
8 Fair Value Journal Entries, Trading Investments Gruden Bancorp Inc. purchased a portfolio of trading securities during Year 1. The cost and fair value of this portfolio on December 31, Year 1, was as follows: Name Number of Shares Total Cost Total Fair Value Griffin Inc. 1,300 $17,420 $16,370 Luck Company 900 29,520 27,450 Wilson Company 250 7,500 7,650 Total $54,440 $51,470 On May 10, Year 2, Gruden Bancorp Inc. purchased 550 shares of Carroll Inc., at $30 per share...
Hurricane Inc. purchased a portfolio of available-for-sale securities in Year 1, its first year of operations....
Hurricane Inc. purchased a portfolio of available-for-sale securities in Year 1, its first year of operations. The cost and fair value of this portfolio on December 31, Year 1, was as follows: 1 Name Number of Shares Total Cost Total Fair Value 2 Tornado Inc. 830.00 $14,857.00 $16,185.00 3 Tsunami Corp. 1,230.00 31,488.00 34,809.00 4 Typhoon Corp. 2,170.00 44,268.00 43,834.00 5 Total $90,613.00 $94,828.00 On June 12, Year 2, Hurricane purchased 1,400 shares of Rogue Wave Inc. at $50 per...
Fair Value Journal Entries, Trading Investments Gruden Bancorp Inc. purchased a portfolio of trading securities during...
Fair Value Journal Entries, Trading Investments Gruden Bancorp Inc. purchased a portfolio of trading securities during Year 1. The cost and fair value of this portfolio on December 31, Year 1, was as follows: Name Number of Shares Total Cost Total Fair Value Griffin Inc. 1,300 $16,370 $17,420 26,240 Luck Company 800 24,400 Wilson Company 200 6,120 6,000 $49,660 Total $46,890 On May 10, Year 2, Gruden Bancorp Inc. purchased 500 shares of Carroll Inc., at $30 per share plus...
At the end of its first year, the trading securities portfolio consisted of the following common stocks. Cost_ Fair Value Pow Corporation $ 146,500 $ 150,000 Bun Inc. 165,000 158,000 Ghost Corporation 180,000 176,400 $491,500 $484,400 The unrealized loss to be recognized under the fair value method is a. $7,150. $7,100 $5,100. $7,600.
At the end of its first year, the trading securities portfolio consisted of the following common stocks. Cost Market Able Corporation $ 46,400 $ 50,000 Baker Inc. 60,000 53,800 Cole Corporation 80,000 76,000 $186,400 $179,800 107. The unrealized loss to be recognized under the fair value method is a. $6,200. b. $10,200. c. $6,600. d. $4,000 108. In the following year, the Baker common stock is sold for cash proceeds of $58,000. The gain or loss to be recognized on...
Stock Inv Stock Investments Loss on Sale of Stock Investments Cash.. . d. 25% of the common stock of an investee company is purchased as a long-term investment, the appropriate method of accounting for the investment is a. the cost method. b. the equity method. C. the preparation of consolidated financial statements. d. determined by agreement with whomever owns the remaining 90% of the stock, 6) On January 1, 2020, Jamestina Corp. paid $1,800,000 for 100,000 shares of Belinda Company's...
During 2019 the trading securities portfolio held by the Edelman Corporation consisted of the following investments: 1. 2. 2,000 shares of Bauer common stock purchased for $80,000. 1,500 shares of Snow common stock purchased for $60,000. At December 31, 2019, the fair values per share were Bauer $36 and Snow $45. Instructions (a) Prepare a schedule showing the cost and fair value of the portfolio at December 31, 2019. Investment Cost 80,000 60, 6 Oo Fair Value Unrealized Gain /...
Fair Value Journal Entries, Trading Investments Jets Bancorp Inc. purchased a portfolio of trading securities during 2073. The cost and fair value of this portfolio on December 31, 20Y3, was as follows: Name Number of Shares Total Cost Total Fair Value Dolphins Inc. Marino Company 1,600 1,400 $28,800 35,000 21,000 $32,000 30,800 Namath Company 600 19,800 Total $84,800 $82,600 Journalize the entry to record the adjustment of the trading security portfolio to fair value on December 31, 20Y3. If an...
8) Bonda Corporation's trading portfolio at the end of the year is as follows: Security Cost Fair Value Common Stock CSS $110,000 $112,000 Common Stock AAD 19.000 15,000 $129.000 $127.000 At the end of the year, Bonda Corporation should a. set up a Fair Value Adjustment account for Stock AAD. b. set up a Fair Value Adjustment account for the portfolio c. recognize an Unrealized Loss -Income for $2,000. d. report a loss on the income statement for $4.000 under...
Fair Value Journal Entries, Trading Investments Gruden Bancorp Inc. purchased a portfolio of trading securities during Year 1. The cost and fair value of this portfolio on December 31, Year 1, was as follows: Name Number of Shares Total Cost Total Fair Value Griffin Inc. 1,300 $16,370 $17,420 26,240 Luck Company 800 24,400 Wilson Company 200 6,120 6,000 $49,660 Total $46,890 On May 10, Year 2, Gruden Bancorp Inc. purchased 500 shares of Carroll Inc., at $30 per share plus...
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