At December 31, 2020, the trading securities for Paul Company are as follows: Security ...
At December 31, 2020, the trading securities for Paul Company are as follows:
Security Cost Fair Value
AXZ $116,000 $120,000
BKY 134,000 132,000
$250,000 $252,000
Prepare the adjusting entry at December 31, 2020, to report the securities at fair value (show the steps please)
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At December 31, 2020, the trading securities for Paul Company
are as follows:
Security
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42) On January 1 Jaraih Corporation purchased a 25% equity in Peaceman Corporation for $210,000. At...
42) On January 1 Jaraih Corporation purchased a 25% equity in Peaceman Corporation for $210,000. At December 31 Peaceman declared and paid a $60,000 cash dividend and reported net income of $200,000. Instructions (a) Journalize the transactions 43) At December 31, 2020, the trading securities for Paul Company are as follows: Security AXZ BKY Cost $116,000 134,000 $250.000 Fair Value $120,000 132,000 $252.000
At December 31, 2020, the trading debt securities for Storrer, E16.10 (LO 3) Financial Statement Inc....
At December 31, 2020, the trading debt securities for Storrer, E16.10 (LO 3) Financial Statement Inc. are as follows. Prepare adjo fair value, a presentation Exc Security A B С Cost $17,500 12,500 23,000 $53,000 Fair Value $16,000 14,000 21,000 $51.000 Instructions a. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. 1. Show the balance sheet and income statement presentation at December 31, 2020, after adjustment to fair value.
12:19 PM Sun Feb 9 C16 #2 At December 31, 2020, the trading securities for Sandhill,...
12:19 PM Sun Feb 9 C16 #2 At December 31, 2020, the trading securities for Sandhill, Inc. are as follows. Security Cost Fair Value $16,300 13,800 $17,100 12,800 22,600 $52,500 $49.000 Your answer is partially correct. Try again. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and...
Exercise 16-10 a-b (Part Level Submission) (Video) At December 31, 2020, the trading securities for Blossom,...
Exercise 16-10 a-b (Part Level Submission) (Video) At December 31, 2020, the trading securities for Blossom, Inc. are as follows. Security Cost $17,000 12,000 22,500 $51.500 Fair Value $15,500 13,500 18,500 $47.500 Your answer is partially correct. Try again Prepare the adjusting entry of December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Il ne entry is require select "Moetry for the account titles and...
Sheridan Company has the following data at December 31, 2020. Securities Cost Fair Value Trading $121,500...
Sheridan Company has the following data at December 31, 2020. Securities Cost Fair Value Trading $121,500 $125,000 Available-for-sale 101,100 93,800 The available-for-sale securities are held as a long-term investment. Prepare the adjusting entries to report: (1) Trading securities at fair value and (2) Available-for-sale securities at fair value.
Exercise 16-12 a-b (Video) Sheridan Company has the following data at December 31, 2020. Securities Trading...
Exercise 16-12 a-b (Video) Sheridan Company has the following data at December 31, 2020. Securities Trading Available-for-sale Cost $121,500 101,100 Fair Value $125,000 93,800 The available-for-sale securities are held as a long-term investment. Your answer is correct. Prepare the adjusting entries to report: (1) Trading securities at fair value and (2) Available-for-sale securities at fair value. (Credit acc entry" for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit (1) Fair Value Adjustment-Trading...
Exercise 16-11 a-b (Part Level Submission) At December 31, 2020, the available-for-sale debt securities for Sandhill,...
Exercise 16-11 a-b (Part Level Submission) At December 31, 2020, the available-for-sale debt securities for Sandhill, Inc. are as follows. The securities are considered to be a long-term investment. Security Cost Fair Value $17,300 12,500 22,500 $52,300 $16,400 14,100 18,700 $49,200 (a) Your answer is partially correct. Try again. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...
Exercise 16-11 - (Part Level Submission) At December 31, 2020, the available for sale debt securities...
Exercise 16-11 - (Part Level Submission) At December 31, 2020, the available for sale debt securities for Pharoah, Inc. are as follows. The securities are considered to be a long-term investment. Security Cost $17,100 12,400 23,300 $52,800 Fair Value $15,800 14,500 19,200 $49,500 (a) Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do ne indent manually. If no entry is required, select "No...
Exercise 16-10 a-b (Part Level Submission) (Video) At December 31, 2020, the trading securities for Cullumber,...
Exercise 16-10 a-b (Part Level Submission) (Video) At December 31, 2020, the trading securities for Cullumber, Inc. are as follows. Security Cost Fair Value A $17,900 $15,600 B 12,600 14,300 C 23,100 18,900 $53,600 $48,800 (a) Your answer is correct. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account...
At December 31, 2020, the available-for-sale debt portfolio for Culver, Inc is as follows.
At December 31, 2020, the available-for-sale debt portfolio for Culver, Inc is as follows. On January 20, 2021, Culver. Inc, sold security A for $30,200. The sale proceeds are net of brokerage fees. Prepare the adjusting entry at December 31, 2020, to report the portfolio at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Show the balance...
42) On January 1 Jaraih Corporation purchased a 25% equity in Peaceman Corporation for $210,000. At December 31 Peaceman declared and paid a $60,000 cash dividend and reported net income of $200,000. Instructions (a) Journalize the transactions 43) At December 31, 2020, the trading securities for Paul Company are as follows: Security AXZ BKY Cost $116,000 134,000 $250.000 Fair Value $120,000 132,000 $252.000
At December 31, 2020, the trading debt securities for Storrer, E16.10 (LO 3) Financial Statement Inc. are as follows. Prepare adjo fair value, a presentation Exc Security A B С Cost $17,500 12,500 23,000 $53,000 Fair Value $16,000 14,000 21,000 $51.000 Instructions a. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. 1. Show the balance sheet and income statement presentation at December 31, 2020, after adjustment to fair value.
12:19 PM Sun Feb 9 C16 #2 At December 31, 2020, the trading securities for Sandhill, Inc. are as follows. Security Cost Fair Value $16,300 13,800 $17,100 12,800 22,600 $52,500 $49.000 Your answer is partially correct. Try again. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and...
Exercise 16-10 a-b (Part Level Submission) (Video) At December 31, 2020, the trading securities for Blossom, Inc. are as follows. Security Cost $17,000 12,000 22,500 $51.500 Fair Value $15,500 13,500 18,500 $47.500 Your answer is partially correct. Try again Prepare the adjusting entry of December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Il ne entry is require select "Moetry for the account titles and...
Exercise 16-12 a-b (Video) Sheridan Company has the following data at December 31, 2020. Securities Trading Available-for-sale Cost $121,500 101,100 Fair Value $125,000 93,800 The available-for-sale securities are held as a long-term investment. Your answer is correct. Prepare the adjusting entries to report: (1) Trading securities at fair value and (2) Available-for-sale securities at fair value. (Credit acc entry" for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit (1) Fair Value Adjustment-Trading...
Exercise 16-11 a-b (Part Level Submission) At December 31, 2020, the available-for-sale debt securities for Sandhill, Inc. are as follows. The securities are considered to be a long-term investment. Security Cost Fair Value $17,300 12,500 22,500 $52,300 $16,400 14,100 18,700 $49,200 (a) Your answer is partially correct. Try again. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...
Exercise 16-11 - (Part Level Submission) At December 31, 2020, the available for sale debt securities for Pharoah, Inc. are as follows. The securities are considered to be a long-term investment. Security Cost $17,100 12,400 23,300 $52,800 Fair Value $15,800 14,500 19,200 $49,500 (a) Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do ne indent manually. If no entry is required, select "No...
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