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Problem 9-4 Sheffield Corp. has the following securities (all purchased in 2017) in its investment portfolio...
Problem 17-5 Pronghorn Company has the following securities in its investment portfolio on December 31, 2017 (all securities were purchased in 2017): (1) 3,100 shares of Anderson Co. common stock which cost $62,000, (2) 10,000 shares of Munter Ltd. common stock which cost $570,000, and (3) 6,600 shares of King Company preferred stock which cost $283,800. The Fair Value Adjustment account shows a credit of $10,800 at the end of 2017. In 2018, Pronghorn completed the following securities transactions. 1....
Ayayai Corp. has the following securities (all purchased in 2020) in its investment portfolio on December 31, 2020: 2,420 Anderson Corp. common shares, which cost $48,850; 12,100 Munter Ltd. common shares, which cost $580,700; and 6,360 King Corp. preferred shares, which cost $255,600. Their fair values at the end of 2020 were as follows: Anderson Corp. $50,980; Munter Ltd. $569,600; and King Corp. $255,100. In 2021, Ayayai completed the following transactions: 1. On January 15, sold 2,420 Anderson common shares...
Problem 17-5 Crane Company has the following securities in its investment portfolio on December 31, 2017 (all securities were purchased in 2017): (1) 3,100 shares of Anderson Co. common stock which cost $58,900, (2) 9,900 shares of Munter Ltd. common stock which cost $564,300, and (3) 5,600 shares of King Company preferred stock which cost $229,600. The Fair Value Adjustment account shows a credit of $10,500 at the end of 2017. In 2018, Crane completed the following securities transactions. 1....
MESSAGE MY INSTRUCTOR STANDARD VIEW PRINTER VERSION BACK NEXT Problem 9-4 Swifty Corp, has the following securities (all purchased in 2020) in its investment portfolio on December 31, 2020: 2,570 Anderson Corp. common shares, which cost $48,650; 11,100 Munter Ltd, common shares, which cost $580,300; and 6,340 King Corp. preferred shares, which cost $255,200. Their fair values at the end of 2020 were as follows: Anderson Corp. $50,580; Munter Ltd. $569,400; and King Corp. $254,900. In 2021, Swifty completed the...
Larkspur Company has the following securities in its investment portfolio on December 31, 2020 (all securities were purchased in 2020): (1) 2,800 shares of Anderson Co. common stock which cost $53,200, (2) 10,700 shares of Munter Ltd. common stock which cost $599,200, and (3) 6,000 shares of King Company preferred stock which cost $258,000. The Fair Value Adjustment account shows a credit of $10,100 at the end of 2020. In 2021, Larkspur completed the following securities transactions. 1. On January...
Bonita Company has the following securities in its investment portfolio on December 31, 2020 (all securities were purchased in 2020): (1) 3,100 shares of Anderson Co. common stock which cost $58,900, (2) 9,800 shares of Munter Ltd. common stock which cost $548,800, and (3) 5,700 shares of King Company preferred stock which cost $233,700. The Fair Value Adjustment account shows a credit of $10,200 at the end of 2020. In 2021, Bonita completed the following securities transactions. 1. On January...
Exercise 9-9 Pronghorn Corporation, a Canadian-based international company that follows IFRS 9, has the following securities in its portfolio of investments acquired for trading purposes and accounted for using the FV-NI method on December 31, 2016: Carrying Amount (before Investments 1,300 shares of David Jones Inc., common 4,900 shares of Hearn Corp., common 450 shares of Alessandro Inc., preferred adjustment) $72,500 166,600 76,500 $315,600 Fair Value $67,900 161,800 79,000 $308,700 In 2017, Pronghorn completed the following securities transactions: Mar. 1...
Whispering Winds Corp. has the following securities in its portfolio of equity securities on December 31, 2021: Cost 5,000 shares of Thomas Corp., Common $151,000 10,000 shares of Gant, Common 180,000 $331,000 Fair Value $138,600 187,700 $326,300 All of the securities had been purchased in 2021. In 2022, Whispering Winds Corp. completed the following securities transactions: March 1 Sold 5,000 shares of Thomas Corp., Common @ $31 less fees of $1,500. April 1 Bought 610 shares of Werth Stores, Common...
Exercise 9-9 Sarasota Corporation, a Canadian-based international company that follows IFRS, has the following securities in its portfolio of investments acquired for trading purposes and accounted for using the FV-NI method on December 31, 2019: Carrying Amount (before Investments adjustment) Fair Value 2,000 shares of David Jones Inc., common $91,000 $87,000 5,200 shares of Hearn Corp., common 171,600 164,500 420 shares of Alessandro Inc., preferred 63,000 64,900 $325,600 $316,100 In 2020, Sarasota completed the following securities transactions: Mar. 1 Sold...
Pearl Company has the following portfolio of investment securities at September 30, 2020, its most recent reporting date. Investment Securities Cost Fair Value Horton, Inc. common (4,800 shares) $206,400 $190,060 Monty, Inc. preferred (3,430 shares) 126,910 133,740 Oakwood Corp. common (1,020 shares) 179,520 178,470 On October 10, 2020, the Horton shares were sold at a price of $54 per share. In addition, 3,090 shares of Patriot common stock were acquired at $56 per share on November 2, 2020. The December...