Homework Answers
| Valuation Allowance for Trading Investments balance | 22500 | |
| Less: Excess of fair value over cost | 18000 | =98000-80000 |
| Decrease in Valuation Allowance for Trading Investments | 4500 | |
| Decrease in Valuation Allowance for Trading Investments indicates decline in value of investments | ||
| Blanton would report on the Income statement for 2017: | ||
| an Unrealized Loss on Trading Investments of $4,500. | ||
| Option A is correct | ||
Add Answer to:
36. On January 1, 2017, Blanton Company's Valuation Allowance for Trading Investments! account has a debit...
Valuing Trading Securities at Fair Value On January 1, Valuation Allowance for Trading Investments had a...
Valuing Trading Securities at Fair Value On January 1, Valuation Allowance for Trading Investments had a zero balance. On December 31, the cost of the trading securities portfolio was $48,800, and the fair value was $49,900. Prepare the December 31 adjusting journal entry to record the unrealized gain or loss on trading investments. Dec. 31 Trading Investments Trading Investments Valuing Available-for-Sale Securities at Fair Value On January 1, Valuation Allowance for Available-for-Sale Investments had a zero balance. On December 31,...
On January 1, Valuation Allowance for Trading Investments had a zero balance
On January 1, Valuation Allowance for Trading Investments had a zero balance. On December 31, the cost of the trading securities portfolio was $71,000, and the value was $72,900. Prepare the December 31 adjusting journal entry to record the unrealized gain or loss on trading investments.
On January 1, 20Y9, Valuation Allowance for Trading Investments had a zero balance
On January 1, 20Y9, Valuation Allowance for Trading Investments had a zero balance. On December 31, 20Y9, the cost of the trading securities portfolio was $379,100, and the fair value was $348,000. Journalize the December 31, 2019, adjusting journal entry to record the unrealized gain or loss on trading investments Refer to the Chart of Accounts for exact wording of account titles.Fair Value Journal Entries, Trading Investments The investments of Charger Inc. include a single investment: 14,000 shares of Raiders Inc. common...
On January 1, Valuation Allowance for Available for Sale Investments had a zero balance.
On January 1, Valuation Allowance for Available for Sale Investments had a zero balance. On December 31, the cost of the available for sale securities was 85.500, and the fair value was $87,840. Prepare the adjusting entry to record the unrealized gain or loss on available for sale investments on December 31 Dec. 31
Founded on January 1, 2017, Gehl Company had the following short-term investments in securities a...
Founded on January 1, 2017, Gehl Company had the following short-term investments in securities at the end of 2017 and 2018 (all were held in the "trading" portfolio): 12/31/18 Fair Value $ 94,000 162,000 136,000 Equity Security cost $96,000 184,000 126,000 Required: If the company recorded a $4,000 debit to its Fair value adjustment-Trading securities account at the end of 2018 as its fair value adjustment, what must have been the unrealized gain or loss recorded at the end of...
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 /...
200,500 Investments - Wilkomm Inc Cash 200,500 90,198 24 Investments - McMarsh Inc Cash 90.198 1...
200,500 Investments - Wilkomm Inc Cash 200,500 90,198 24 Investments - McMarsh Inc Cash 90.198 1 98,700 5,560 Cash Loss on Sale of Investments Investments - Wilkomm Inc. 104,260 840 30 840 Cash Dividend Revenue Dec 31 Unrealized Loss on Trading Investments Valuation Allowance for Trading Investments Cost Fair Value Wilkomm Inc. Mc Marsh Inc Total Enter a formula of number of shares x cost per share Increase (decrease) in fair value 2015 Stock investment francacions, trading securities Scofield Financial...
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 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...
Fair Value Journal Entries, Available for Sale Investments The Investments of Steelers Inc. Indude a single...
Fair Value Journal Entries, Available for Sale Investments The Investments of Steelers Inc. Indude a single investment 5400,000 of Bengals Inc. 5 bonds purchased at 100 on January 1, 2017. These bonds were classified as available for sale securities. As of the December 31, 2017, balance sheet date, the fair value of the bonds declined to $392,800. a. Journalize the entries to acquire the investment on January 1, 2017, and record the adjustment to fair value on December 31, 2017....
Founded on January 1, 2017, Gehl Company had the following short-term investments in securities at the end of 2017 and 2018 (all were held in the "trading" portfolio): 12/31/18 Fair Value $ 94,000 162,000 136,000 Equity Security cost $96,000 184,000 126,000 Required: If the company recorded a $4,000 debit to its Fair value adjustment-Trading securities account at the end of 2018 as its fair value adjustment, what must have been the unrealized gain or loss recorded at the end of...
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 /...
200,500 Investments - Wilkomm Inc Cash 200,500 90,198 24 Investments - McMarsh Inc Cash 90.198 1 98,700 5,560 Cash Loss on Sale of Investments Investments - Wilkomm Inc. 104,260 840 30 840 Cash Dividend Revenue Dec 31 Unrealized Loss on Trading Investments Valuation Allowance for Trading Investments Cost Fair Value Wilkomm Inc. Mc Marsh Inc Total Enter a formula of number of shares x cost per share Increase (decrease) in fair value 2015 Stock investment francacions, trading securities Scofield Financial...
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...
Fair Value Journal Entries, Available for Sale Investments The Investments of Steelers Inc. Indude a single investment 5400,000 of Bengals Inc. 5 bonds purchased at 100 on January 1, 2017. These bonds were classified as available for sale securities. As of the December 31, 2017, balance sheet date, the fair value of the bonds declined to $392,800. a. Journalize the entries to acquire the investment on January 1, 2017, and record the adjustment to fair value on December 31, 2017....
Most questions answered within 3 hours.
-
Why are polymers not typically casted into products?
asked 9 seconds ago -
When rolling a die 129 times, what is the probability of rolling
a 6 no more...
asked 16 minutes ago -
4. A call option currently sells for $7.75. It has a strike
price of $85 and...
asked 5 minutes ago -
1.
You need to prepare 10.0 liters of an acid aqueous solution with a
pH of...
asked 8 minutes ago -
Along an aggregate supply curve, if the level of output is less
than the natural level...
asked 9 minutes ago -
By 2025, annual consumption in emerging markets will total $30
trillion and contribute more than ________...
asked 14 minutes ago -
At what point does reformation cease to be a viable option for
those who are oppressed...
asked 18 minutes ago -
Place letters corresponding to amounts in the proper order for
lightest to heaviest samples:
a) 2100...
asked 22 minutes ago -
Consider the multicore processor with 6 heterogeneous cores
labelled C1, C2, C3, C4, C5, and C6....
asked 24 minutes ago -
Document system components according to standards and procedures
(Implement and hand over system components) IT administrative
asked 25 minutes ago -
The college asked 700 students if they wanted a longer spring
break and 600 students said...
asked 24 minutes ago -
Determine the temperature (in Celsius) at which 1.00 mole of an
ideal gas will have a...
asked 49 minutes ago