Marigold Company has the following securities in its portfolio
on December 31, 2020. None of these investments are accounted for
under the equity method.
Investments |
Cost |
Fair Value |
||
1,500 shares of Gordon, Inc., Common | $69,700 | $65,500 | ||
5,000 shares of Wallace Corp., Common | 193,400 | 188,300 | ||
400 shares of Martin, Inc., Preferred | 60,300 | 61,800 | ||
$323,400 | $315,600 |
All of the securities were purchased in 2020.
In 2021, Marigold completed the following securities
transactions.
March 1 | Sold the 1,500 shares of Gordon, Inc., Common, @ $45 less fees of $1,200. | |
April 1 | Bought 700 shares of Earnhart Corp., Common, @ $75 plus fees of $1,300. |
Marigold’s portfolio of equity securities appeared as follows on
December 31, 2021.
Investments |
Cost |
Fair Value |
||
5,000 shares of Wallace Corp., Common | $193,400 | $188,300 | ||
700 shares of Earnhart Corp., Common | 53,800 | 50,700 | ||
400 shares of Martin, Inc., Preferred | 60,300 | 58,300 | ||
$307,500 | $297,300 |
Prepare the general journal entries for Marigold Company
for:
(a) | The 2020 adjusting entry. | |
(b) | The sale of the Gordon stock. | |
(c) | The purchase of the Earnhart stock. | |
(d) | The 2021 adjusting entry for the trading portfolio. |
Marigold Company has the following securities in its portfolio on December 31, 2020. None of these...
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all help is welcome! i alsways thumbs up if i can interpret the answer! the following has the following securities in its portfolio on December 31, 2017. None of these investments are accounted for under the equity method Fair Value Investments Cost 1,500 shares of Gordon, Inc., Common $77,600 $73,200 5,000 shares of Wallace Corp., Common 172,900 167,700 65,100 400 shares of Martin, Inc., Preferred 63,500 $314,000 $306,000 All of the securities were purchased in 2017. In 2018, Sandhill completed...
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