Homework Answers
Option C is correct as these are the trading securities but yet not sold so there is an Unrealised loss of $ 2000 ( 127000 - 129000 ) and this will be reported under Income.
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8) Bonda Corporation's trading portfolio at the end of the year is as follows: Security Cost...
if 25% of the common stock of an investee company is purchased as a long-term investment, the appropriate method of...
if 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. On January 1, 2020, Jamestina Corp. paid $1,800,000 for 100,000 shares of Belinda Company's common stock, which represents 25% of Belinda's outstanding common stock. Belinda reported net...
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...
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 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.
b.$7,100
c.$5,100.
d.$7,600.
9) At the end of its first year, the trading securities portfolio consisted of the following common stocks. Fair Value $150,000 158,000 176 400 $484,400...
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...
Recognizing Fair Value and the Balance Sheet Presentation of Investments Stewart Corporation's trading portfolio of stock...
Recognizing Fair Value and the Balance Sheet Presentation of Investments Stewart Corporation's trading portfolio of stock investments consisted of the following at December 31, 2017: Stock Number of Shares Cost Conn Common Stock 100 $14,000 Ares Preferred Stock 400 6,000 Hall Common Stock 275 8,250 Pall Common Stock 50 3,000 $31,250 At year end on December 31, 2017, the fair values per share were: Fair Value Per Share Conn Common Stock $158 Ares Preferred Stock $14 Hall Common Stock $24...
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.
29. A the end of the year, Greer Corporat ion shoul et up a Market Adjustment...
29. A the end of the year, Greer Corporat ion shoul et up a Market Adjustment account for Stock B set up a Market Adjustment account for the portfolio recognize an Unrealized Gain or Loss-Income for $3,000 a. s b. a report a loss on the income statement for $3,000 under "Other Expenses and Losses. 3rer subsegvently sells Stock B for $11,000. What entry is made zo recora the sale? a Cesk .--... 11,000 11,000 .-_.- . -_- - .11,000...
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...
At December 31, 2017, the available-for-sale debt portfolio for Skysong, Inc. is as follows. Unrealized Gain...
At December 31, 2017, the available-for-sale debt portfolio for Skysong, Inc. is as follows. Unrealized Gain (Loss) Security Cost Fair Value $27,000 25,200 45,900 $98,100 $(4,500) 2,700 4,500 $31,500 22,500 41,400 Total $95,400 Previous fair value adjustment balance-Dr. Fair value adjustment-Dr. 2,700 720 $1,980 On January 20, 2018, Skysong, Inc. sold security A for $27,180. The sale proceeds are net of brokerage fees. (a) Your answer is correct. Prepare the adjusting entry at December 31, 2017, to report the portfolio...
At December 31, 2020, the available-for-sale debt portfolio for Marigold, Inc. is as follows. Security Cost...
At December 31, 2020, the available-for-sale debt portfolio for Marigold, Inc. is as follows. Security Cost Fair Value $31,500 $27,000 22,500 25,200 41,400 45,900 Total $95,400 $98,100 Previous fair value adjustment balance-Dr. Fair value adjustment-Dr. Unrealized Gain (Loss) $(4,500 ) 2,700 4,500 2,700 720 $1,980 On January 20, 2021, Marigold, Inc. sold security A for $27,180. The sale proceeds are net of brokerage fees. (a) Prepare the adjusting entry at December 31, 2020, to report the portfolio at fair value....
if 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. On January 1, 2020, Jamestina Corp. paid $1,800,000 for 100,000 shares of Belinda Company's common stock, which represents 25% of Belinda's outstanding common stock. Belinda reported net...
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...
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.
b.$7,100
c.$5,100.
d.$7,600.
9) At the end of its first year, the trading securities portfolio consisted of the following common stocks. Fair Value $150,000 158,000 176 400 $484,400...
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...
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.
29. A the end of the year, Greer Corporat ion shoul et up a Market Adjustment account for Stock B set up a Market Adjustment account for the portfolio recognize an Unrealized Gain or Loss-Income for $3,000 a. s b. a report a loss on the income statement for $3,000 under "Other Expenses and Losses. 3rer subsegvently sells Stock B for $11,000. What entry is made zo recora the sale? a Cesk .--... 11,000 11,000 .-_.- . -_- - .11,000...
At December 31, 2017, the available-for-sale debt portfolio for Skysong, Inc. is as follows. Unrealized Gain (Loss) Security Cost Fair Value $27,000 25,200 45,900 $98,100 $(4,500) 2,700 4,500 $31,500 22,500 41,400 Total $95,400 Previous fair value adjustment balance-Dr. Fair value adjustment-Dr. 2,700 720 $1,980 On January 20, 2018, Skysong, Inc. sold security A for $27,180. The sale proceeds are net of brokerage fees. (a) Your answer is correct. Prepare the adjusting entry at December 31, 2017, to report the portfolio...
At December 31, 2020, the available-for-sale debt portfolio for Marigold, Inc. is as follows. Security Cost Fair Value $31,500 $27,000 22,500 25,200 41,400 45,900 Total $95,400 $98,100 Previous fair value adjustment balance-Dr. Fair value adjustment-Dr. Unrealized Gain (Loss) $(4,500 ) 2,700 4,500 2,700 720 $1,980 On January 20, 2021, Marigold, Inc. sold security A for $27,180. The sale proceeds are net of brokerage fees. (a) Prepare the adjusting entry at December 31, 2020, to report the portfolio at fair value....
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