Homework Answers
CALCULATION OF FAIR VALUE AS ON 12/31/2018
Security A $ 84,000
Security B $ 54,000
Security C $ 22,000
Total $ 160,000
Trading securities are normally considered as current assets because are invested for short term only and for trading purpose only.
It means above investment are considered as current assets and fair value is $ 160,000
As per above explanation,
Answer = Option D = $ 160,000 Current Assets
Add Answer to:
Anthers Inc. bought the following portfolio of trading securities near the end of 2018. Security Cost...
Question 7 (1 point) / Saved Anthers Inc. bought the following portfolio of trading securities near...
Question 7 (1 point) / Saved Anthers Inc. bought the following portfolio of trading securities near the end of 2018 Security Cost $80,000 60,000 22,000 Fair value 12/31/2018 $84,000 54,000 22,000 What amount will be reported in the balance sheet for this portfolio at December 31, 2018, and how will it be classified? Amount Classification a. $162,000 Noncurrent Asset b. $162,000 Current Asset $160,000 Noncurrent Asset d. $160,000 Current Asset Option a Option b Optionc Option d Question 8 (1...
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...
help please! 2. Why is a trading security always a current asset? Explain. S5-2. (Learning Objective...
help please!
2. Why is a trading security always a current asset? Explain. S5-2. (Learning Objective 1: Account for short-term investments) Keystone Corp. holds a portfo- lio of trading securities. Suppose that on October 15, Keystone paid $160,000 for an investment in Shurock Co. shares to add to its portfolio. At December 31, the market value of Shurock Co shares is $172,000. For this situation, show everything that Keystone would report on its December 31 balance sheet and on its...
Held to Maturity Securities: ABC Co. Bonds Trading Securities: Amortized cost 12/31/2017 $367,500 Amortized Cost 12/31/2018...
Held to Maturity Securities: ABC Co. Bonds Trading Securities: Amortized cost 12/31/2017 $367,500 Amortized Cost 12/31/2018 $360,000 awarded pred Fair Value 12/31/2017 $375,000 Fair value 12/31/2017 $ 48,000 $ 47,000 $ 44,000 Fair Value 12/31/2017 $130,500 DEF Co. Bonds GEH Inc. Bonds IJK Inc. Bonds Available for sale Securities: LMN Co. Bonds Fair Value 12/31/2018 $400,000 Fair Value 12/31/2018 $ 59,500 $ 77,000 $ 38,500 Fair Value 12/31/2018 $150,400 Cost $ 66,000 $ 39,000 $ 32,990 Cost $140,000 2140,000 What...
Fair Value Journal Entries, Trading Investments Storm, Inc. purchased the following trading securities during 2049, its...
Fair Value Journal Entries, Trading Investments Storm, Inc. purchased the following trading securities during 2049, its first year of operations: Name Number of Shares Cost Dust Devil, Inc. 1,900 $81,700 Gale Co. 850 68,000 Whirlwind Co. 2,850 114,000 Total $263,700 The market price per share for the trading security portfolio on December 31, 2049, was as follows: Market Price per Share, Dec. 31, 2019 Dust Devil, Inc. $40 Gale Co. 75 Whirlwind Co. 42 a. Provide the journal entry to...
Calculator Fair Value Journal Entries, Trading Investments Last Unguaranteed Financial Inc. purchased the following trading securities...
Calculator Fair Value Journal Entries, Trading Investments Last Unguaranteed Financial Inc. purchased the following trading securities during Year 1, its first year of operations: Number of Shares Cost Name Arden Enterprises Inc. 4,300 $87,720 French Broad Industries Inc. 1,100 16,830 Pisgah Construction Inc. 900 20,700 $125,250 Total The market price per share for the trading security portfolio on December 31, Year 1 was as follows: Market Price per Share Dec. 31, Year 1 $26 Arden Enterprises Inc. French Broad Industries...
Fair Value Journal Entries, Trading Investments Last Unguaranteed Financial Inc. purchased the following trading securities during...
Fair Value Journal Entries, Trading Investments
Last Unguaranteed Financial Inc. purchased the following trading
securities during Year 1, its first year of operations:
Name
Number of Shares
Cost
Arden Enterprises Inc.
3,500
$73,150
French Broad Industries Inc.
1,300
20,800
Pisgah Construction Inc.
800
20,000
Total
$113,950
The market price per share for the trading security portfolio on
December 31, Year 1 was as follows:
Market Price per Share
Dec. 31, Year 1
Arden Enterprises Inc.
$26.5
French Broad Industries Inc....
On December 31, 2018, Sage’s securities portfolio consisted of the following common stocks. Security Quantity Cost...
On December 31, 2018, Sage’s securities portfolio consisted of the following common stocks. Security Quantity Cost Fair Value Lindsay Jones, Inc. 1,000 shares $15,200 $19,800 Lindsay Jones, Inc. 2,000 shares 32,900 40,300 Duff Company 1,000 shares 15,900 12,000 Arnold Aircraft 2,000 shares 72,100 22,100 Totals $136,100 $94,200 During the year 2018, Sage Corp. sold 2,000 shares of Poley Corp. for $38,600 and purchased 2,000 more shares of Lindsay Jones, Inc. and 1,000 shares of Duff Company. What should be reported...
Stock Investment Transactions, Trading Securities Zeus Investments Inc. is a regional investment company that began operations...
Stock Investment Transactions, Trading Securities Zeus Investments Inc. is a regional investment company that began operations on January 1, Year 1. The following transactions relate to trading securities acquired by Zeus Investments Inc., which has a fiscal year ending on December 31: Year 1 Feb. 14. Purchased 3,200 shares of Apollo Inc. as a trading security at $36 per share plus a brokerage commission of $640. Apr. 1. Purchased 1,500 shares of Ares Inc. as a trading security at $14...
62. Gruden Bancorp Inc. purchased a portfolio of trading securities during Year 1. The cost and...
62. 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: 1 Name Number of Shares Total Cost Total Fair Value 2 Griffin Inc. 1,480.00 $29,600.00 $32,560.00 3 Luck Company 1,230.00 31,980.00 25,830.00 4 Wilson Company 870.00 31,320.00 28,710.00 5 Total $92,900.00 $87,100.00 On May 10, Year 2, Gruden Bancorp Inc. purchased 980 shares of Carroll Inc. at $26 per share plus...
Question 7 (1 point) / Saved Anthers Inc. bought the following portfolio of trading securities near the end of 2018 Security Cost $80,000 60,000 22,000 Fair value 12/31/2018 $84,000 54,000 22,000 What amount will be reported in the balance sheet for this portfolio at December 31, 2018, and how will it be classified? Amount Classification a. $162,000 Noncurrent Asset b. $162,000 Current Asset $160,000 Noncurrent Asset d. $160,000 Current Asset Option a Option b Optionc Option d Question 8 (1...
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...
help please!
2. Why is a trading security always a current asset? Explain. S5-2. (Learning Objective 1: Account for short-term investments) Keystone Corp. holds a portfo- lio of trading securities. Suppose that on October 15, Keystone paid $160,000 for an investment in Shurock Co. shares to add to its portfolio. At December 31, the market value of Shurock Co shares is $172,000. For this situation, show everything that Keystone would report on its December 31 balance sheet and on its...
Held to Maturity Securities: ABC Co. Bonds Trading Securities: Amortized cost 12/31/2017 $367,500 Amortized Cost 12/31/2018 $360,000 awarded pred Fair Value 12/31/2017 $375,000 Fair value 12/31/2017 $ 48,000 $ 47,000 $ 44,000 Fair Value 12/31/2017 $130,500 DEF Co. Bonds GEH Inc. Bonds IJK Inc. Bonds Available for sale Securities: LMN Co. Bonds Fair Value 12/31/2018 $400,000 Fair Value 12/31/2018 $ 59,500 $ 77,000 $ 38,500 Fair Value 12/31/2018 $150,400 Cost $ 66,000 $ 39,000 $ 32,990 Cost $140,000 2140,000 What...
Fair Value Journal Entries, Trading Investments Storm, Inc. purchased the following trading securities during 2049, its first year of operations: Name Number of Shares Cost Dust Devil, Inc. 1,900 $81,700 Gale Co. 850 68,000 Whirlwind Co. 2,850 114,000 Total $263,700 The market price per share for the trading security portfolio on December 31, 2049, was as follows: Market Price per Share, Dec. 31, 2019 Dust Devil, Inc. $40 Gale Co. 75 Whirlwind Co. 42 a. Provide the journal entry to...
Calculator Fair Value Journal Entries, Trading Investments Last Unguaranteed Financial Inc. purchased the following trading securities during Year 1, its first year of operations: Number of Shares Cost Name Arden Enterprises Inc. 4,300 $87,720 French Broad Industries Inc. 1,100 16,830 Pisgah Construction Inc. 900 20,700 $125,250 Total The market price per share for the trading security portfolio on December 31, Year 1 was as follows: Market Price per Share Dec. 31, Year 1 $26 Arden Enterprises Inc. French Broad Industries...
Fair Value Journal Entries, Trading Investments
Last Unguaranteed Financial Inc. purchased the following trading
securities during Year 1, its first year of operations:
Name
Number of Shares
Cost
Arden Enterprises Inc.
3,500
$73,150
French Broad Industries Inc.
1,300
20,800
Pisgah Construction Inc.
800
20,000
Total
$113,950
The market price per share for the trading security portfolio on
December 31, Year 1 was as follows:
Market Price per Share
Dec. 31, Year 1
Arden Enterprises Inc.
$26.5
French Broad Industries Inc....
Stock Investment Transactions, Trading Securities Zeus Investments Inc. is a regional investment company that began operations on January 1, Year 1. The following transactions relate to trading securities acquired by Zeus Investments Inc., which has a fiscal year ending on December 31: Year 1 Feb. 14. Purchased 3,200 shares of Apollo Inc. as a trading security at $36 per share plus a brokerage commission of $640. Apr. 1. Purchased 1,500 shares of Ares Inc. as a trading security at $14...
Most questions answered within 3 hours.
-
Write the net ionic equation for the precipitation reaction that
occurs when aqueous solutions of potassium...
asked 7 minutes ago -
it
should be written in c++
Your program should take numbers from the user until the...
asked 13 minutes ago -
Buses are powered by chemical reactions. Define matter and the
four states of matter. What is...
asked 31 minutes ago -
Use conservation of energy to find the velocity of a free point
charge q1 at 22cm...
asked 38 minutes ago -
First, describe policies promoted by governments of the
political right to address economic globalization. Second, describe...
asked 55 minutes ago -
M2-9 Completing T-Accounts LO2-4
Following are the transactions of Dennen, Inc., for the month of
January....
asked 56 minutes ago -
Write a program using python that reads from values from a text
file and plots them...
asked 57 minutes ago -
Look up the density of
the metal of the object used in parts A and B...
asked 56 minutes ago -
Discuss strategic considerations that Amazon and NYC politicians
had. Analyze why the deal between Amazon and...
asked 59 minutes ago -
A combustion reaction is describes as a carbon source reacting
with oxygen and producing carbon dioxide...
asked 1 hour ago -
Buckminsterfullerence is a recently allotrope of carbon in which
carbon atoms form molecules of formula C_60,...
asked 1 hour ago -
Lower Equitorial and Upper Equitorial are the same except Lower
Equitorial has a larger capital stock....
asked 1 hour ago