Homework Answers
| Investment in Batone Inc. Common Stock | |||
| 12/31 Bal. | 183750 | 1/20 | 183750 |
| 12/31 Bal. | 0 | ||
| Investment in Mendez Corporation Common Stock | |||
| 12/31 Bal. | 210000 | 12/31 | 15000 |
| 12/31 Bal. | 195000 | ||
| Investment in P. Tillman Corporation Preferred Stock | |||
| 12/31 Bal. | 84000 | 2/18 | 84000 |
| 12/31 Bal. | 0 | ||
| Investment in P. Wahl Corporation Preferred Stock | |||
| 1/28 | 78000 | 12/31 | 8500 |
| 9/6 | 123000 | ||
| 12/31 Bal. | 192500 | ||
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Here is Indigo Company's portfolio of long-term stock investments at December 31, 2021, the end of...
shows in tabular form the account balances under each method at December 31, 2022. PH.5 (LO...
shows in tabular form the account balances under each method at December 31, 2022. PH.5 (LO 2, 3) Here is Kalvin Company's portfolio of long-term stock investments at December 31, 2021, the end of its first year of operations. Journalize stock transactions, and show balance sheet presentation. Cost 1,400 shares of Batone Inc. common stock $73,500 1,200 shares of Mendez Corporation common stock 84,000 800 shares of P. Tillman Corporation preferred stock 33,600 On December 31, the total cost of...
The following are in Colt Company’s portfolio of long-term available-for-sale securities at December 31, 2016. Total...
The following are in Colt Company’s portfolio of long-term available-for-sale securities at December 31, 2016. Total Cost 500 shares of Bonds Corporation common stock $26,000 700 shares of Penn Corporation common stock 42,000 600 shares of Gibbens Corporation preferred stock 16,800 On December 31, the total cost of the portfolio equaled total fair value. Colt Company had the following transactions related to the securities during 2017. Jan. 7: Sold 500 shares of Bonds Corporation common stock at $56 per share. Jan. 10: Purchased...
Post to the investment accounts. (Use separate T-accounts for each investment.) (For accounts with zero balance select "12/31 Bal." from the list and enter "0" or leave it blank.)
Here is Marigold Company’s portfolio of long-term stock investments at December 31, 2021, the end of its first year of operations.Cost1,680shares of Batone Inc. common stock$88,2001,440shares of Mendez Corporation common stock100,800960shares of P. Tillman Corporation preferred stock40,320On December 31, the total cost of the portfolio equaled the total fair value. Marigold had the following transactions related to the securities during 2022.Jan.20Sold 1,680 shares of Batone Inc. common stock at $55 per share.28Purchased 480 shares of $10 par value common stock of P. Wahl Corporation at $78 per share.30Received a cash dividend...
Problem 16-05A a-d The following securities are in Sheridan Company's portfolio of long-term securities at December...
Problem 16-05A a-d The following securities are in Sheridan Company's portfolio of long-term securities at December 31, 2020. Cost 1,400 shares of Willhite Corporation common stock 1,500 shares of Hutcherson Corporation common stock 1,100 shares of Downing Corporation preferred stock $77,000 94,500 33,000 On December 31, 2020, the total cost of the portfolio equaled total fair value. Sheridan had the following transactions related to the securities during 2021. Jan. 20 28 30 Feb. 8 18 July 30 Sept. 6 Dec....
Problem 16-5A 210 The following securities are in Frederick Company's portfolio of long-term available-for-sale securities at December 31, 2017 Cost 82,50D 96,000 39,000 1,500 shares af Wil hite...
Problem 16-5A 210 The following securities are in Frederick Company's portfolio of long-term available-for-sale securities at December 31, 2017 Cost 82,50D 96,000 39,000 1,500 shares af Wil hite Corporatian common stack 1,500 shares of Hutcherson Corporation common stock 1,300 shares of Downing Corporation preferred stock On December 31, 2017, the total cost of the porttolio equaled total fair value. Frederick had the following transactions related to the securities during 2018. Jan. 20 Sold all 1,500 shares of Willhite Corporation common...
The stockholders' equity accounts of Indigo Corporation on January 1, 2022, were as follows. Preferred Stock...
The stockholders' equity accounts of Indigo Corporation on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 10,000 shares authorized) Common Stock ($4 stated value, 600,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock $600,000 2,000,000 30,000 960,000 Retained Earnings 1,376,000 Treasury Stock (10,000 common shares) 80,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 10,000 shares...
9. Here is a company's December 31" Equity Section of the balance sheet: Common Stock, $10...
9. Here is a company's December 31" Equity Section of the balance sheet: Common Stock, $10 par, 10,000 shares issued and outstanding $100,000 Paid-In Capital in Excess of Par - Common Stock 240,000 Retained Earnings 700,000 Total Stockholder's Equity $1,040,000 What was the market price paid for each share of common stock? 10. A corporation is authorized by its corporate charter to issue 10,000 shares of preferred stock with a 7% dividend rate and a par value of $3 per...
The stockholders’ equity accounts of Indigo Corporation on January 1, 2017, were as follows. Preferred Stock...
The stockholders’ equity accounts of Indigo Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,000 shares authorized) $240,000 Common Stock ($5 stated value, 326,000 shares authorized) 1,358,333 Paid-in Capital in Excess of Par Value—Preferred Stock 12,000 Paid-in Capital in Excess of Stated Value—Common Stock 521,600 Retained Earnings 711,000 Treasury Stock (4,000 common shares) 32,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 4,620 shares...
2. On December 31, 2020 Woods International owned the following securities held as a long-term investment....
2. On December 31, 2020 Woods International owned the following securities held as a long-term investment. The securities were not held for influence or control of the investee. Common Stock Shares Cost Trevino Co. 2,000 $60,000 Player Co. 5,000 45,000 Palmer Co. 1,500 30,000 On December 31, 2020, the total fair value of the securities was equal to their cost. In 2021 the following transactions occurred. July 1 Received $1 per share semiannual dividend on Player Co. common stock. Aug....
On December 31, 2017, Turnball Associates owned the following securities, held as a long-term investment. The...
On December 31, 2017, Turnball Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of the investee. Common Stock Shares Cost Gehring Co. 1,800 $50,400 Wooderson Co. 4,800 33,600 Kitselton Co. 1,400 25,200 On December 31, 2017, the total fair value of the securities was equal to its cost. In 2018, the following transactions occurred. Aug. 1 Received $0.50 per share cash dividend on Gehring Co. common stock. Sept. 1...
shows in tabular form the account balances under each method at December 31, 2022. PH.5 (LO 2, 3) Here is Kalvin Company's portfolio of long-term stock investments at December 31, 2021, the end of its first year of operations. Journalize stock transactions, and show balance sheet presentation. Cost 1,400 shares of Batone Inc. common stock $73,500 1,200 shares of Mendez Corporation common stock 84,000 800 shares of P. Tillman Corporation preferred stock 33,600 On December 31, the total cost of...
Problem 16-05A a-d The following securities are in Sheridan Company's portfolio of long-term securities at December 31, 2020. Cost 1,400 shares of Willhite Corporation common stock 1,500 shares of Hutcherson Corporation common stock 1,100 shares of Downing Corporation preferred stock $77,000 94,500 33,000 On December 31, 2020, the total cost of the portfolio equaled total fair value. Sheridan had the following transactions related to the securities during 2021. Jan. 20 28 30 Feb. 8 18 July 30 Sept. 6 Dec....
Problem 16-5A 210 The following securities are in Frederick Company's portfolio of long-term available-for-sale securities at December 31, 2017 Cost 82,50D 96,000 39,000 1,500 shares af Wil hite Corporatian common stack 1,500 shares of Hutcherson Corporation common stock 1,300 shares of Downing Corporation preferred stock On December 31, 2017, the total cost of the porttolio equaled total fair value. Frederick had the following transactions related to the securities during 2018. Jan. 20 Sold all 1,500 shares of Willhite Corporation common...
The stockholders' equity accounts of Indigo Corporation on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 10,000 shares authorized) Common Stock ($4 stated value, 600,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock $600,000 2,000,000 30,000 960,000 Retained Earnings 1,376,000 Treasury Stock (10,000 common shares) 80,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 10,000 shares...
9. Here is a company's December 31" Equity Section of the balance sheet: Common Stock, $10 par, 10,000 shares issued and outstanding $100,000 Paid-In Capital in Excess of Par - Common Stock 240,000 Retained Earnings 700,000 Total Stockholder's Equity $1,040,000 What was the market price paid for each share of common stock? 10. A corporation is authorized by its corporate charter to issue 10,000 shares of preferred stock with a 7% dividend rate and a par value of $3 per...
2. On December 31, 2020 Woods International owned the following securities held as a long-term investment. The securities were not held for influence or control of the investee. Common Stock Shares Cost Trevino Co. 2,000 $60,000 Player Co. 5,000 45,000 Palmer Co. 1,500 30,000 On December 31, 2020, the total fair value of the securities was equal to their cost. In 2021 the following transactions occurred. July 1 Received $1 per share semiannual dividend on Player Co. common stock. Aug....
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