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
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On January 1, Valuation Allowance for Available for Sale Investments had a zero balance.
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...
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....
Instructions Chart of Accounts Journal Instructions
Instructions Chart of Accounts Journal Instructions Jets Bancorp Inc. purchased a portfolio of trading securities during 20Y3. The cost and fair value of this portfolio on December 31, 20Y3, was as follows: Journalize the entry to record the adjustment of the trading security portfolio to fair value on December 31, 2013. Refer to the Chart of Accounts for exact wording of account titles.On January 1, 2045, Valuation Allowance for Available for Sale Investments had a zero balance. On December 31, 20Y5, the...
At the beginning of 2019, Ace Company had the following portfolio of investments in available-for-sale debt...
At the beginning of 2019, Ace Company had the following
portfolio of investments in available-for-sale debt securities (all
of which were acquired at par value):
Security
Cost
1/1/19 Fair Value
A
$35,000
$44,000
B
53,000
50,000
Totals
$88,000
$94,000
During 2019, the following transactions occurred:
Transactions:
May
3
Purchased C debt securities at their par value for
$50,000.
July
1
Sold all of the A securities for $44,000 plus interest of
$1,000.
Dec.
31
Received interest of $1,000 on the...
Missing Statement Items, Available-for-Sale Securities Highland Industries Inc. makes investments in available-for-sale securities. Selected income statement...
Missing Statement Items, Available-for-Sale Securities Highland Industries Inc. makes investments in available-for-sale securities. Selected income statement items for the years ended December 31, Year 2 and Year 3, plus selected items from comparative balance sheets, are as follows: There were no dividends. Determine the missing items. If required, use the minus sign to indicate a net or operating loss, unrealized losses, or a credit balance in the valuation allowance account. Highland Industries Inc. Selected Income Statement Items For the Years...
Missing Statement Items, Available-for-Sale Securities Highland Industries Inc. makes investments in available-for-sale securities. Selected income statement...
Missing Statement Items, Available-for-Sale Securities Highland Industries Inc. makes investments in available-for-sale securities. Selected income statement items for the years ended December 31, Year 2 and Year 3, plus selected items from comparative balance sheets, are as follows: There were no dividends. Determine the missing items. If required, use the minus sign to indicate a net or operating loss, unrealized losses, or a credit balance in the valuation allowance account. Highland Industries Inc. Selected Income Statement Items For the Years...
On January 1, 2020, Sarasota Inc. had the following balance sheet. Assets Cash Debt investments (available-for-sale)...
On January 1, 2020, Sarasota Inc. had the following balance sheet. Assets Cash Debt investments (available-for-sale) Total SARASOTA INC. BALANCE SHEET AS OF JANUARY 1, 2020 Equity $54,600 Common stock 238,100 Accumulated other comprehensive income $292,700 Total $273,300 19,400 $292,700 The accumulated other comprehensive income related to unrealized holding gains on available-for-sale debt securities. The fair value of Sarasota Incis available-for-sale debt securities at December 31, 2020, was $203,800; its cost was $139,400. No securities were purchased during the year....
36. On January 1, 2017, Blanton Company's Valuation Allowance for Trading Investments! account has a debit...
36. On January 1, 2017, Blanton Company's Valuation Allowance for Trading Investments! account has a debit balance of $22,500. On December 31, 2017, the cost of the trading securities portfolio was $80,000. The fair value was $98,000. Which of the following would Blanton report on the income statement for 2017? a. an Unrealized Loss on Trading Investments of $4,500. b. an Unrealized Gain on Trading Investments of $4.500. c. an Unrealized Gain on Trading Investments of S18,000. d. an Unrealized...
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....
At the beginning of 2019, Ace Company had the following
portfolio of investments in available-for-sale debt securities (all
of which were acquired at par value):
Security
Cost
1/1/19 Fair Value
A
$35,000
$44,000
B
53,000
50,000
Totals
$88,000
$94,000
During 2019, the following transactions occurred:
Transactions:
May
3
Purchased C debt securities at their par value for
$50,000.
July
1
Sold all of the A securities for $44,000 plus interest of
$1,000.
Dec.
31
Received interest of $1,000 on the...
Missing Statement Items, Available-for-Sale Securities Highland Industries Inc. makes investments in available-for-sale securities. Selected income statement items for the years ended December 31, Year 2 and Year 3, plus selected items from comparative balance sheets, are as follows: There were no dividends. Determine the missing items. If required, use the minus sign to indicate a net or operating loss, unrealized losses, or a credit balance in the valuation allowance account. Highland Industries Inc. Selected Income Statement Items For the Years...
Missing Statement Items, Available-for-Sale Securities Highland Industries Inc. makes investments in available-for-sale securities. Selected income statement items for the years ended December 31, Year 2 and Year 3, plus selected items from comparative balance sheets, are as follows: There were no dividends. Determine the missing items. If required, use the minus sign to indicate a net or operating loss, unrealized losses, or a credit balance in the valuation allowance account. Highland Industries Inc. Selected Income Statement Items For the Years...
On January 1, 2020, Sarasota Inc. had the following balance sheet. Assets Cash Debt investments (available-for-sale) Total SARASOTA INC. BALANCE SHEET AS OF JANUARY 1, 2020 Equity $54,600 Common stock 238,100 Accumulated other comprehensive income $292,700 Total $273,300 19,400 $292,700 The accumulated other comprehensive income related to unrealized holding gains on available-for-sale debt securities. The fair value of Sarasota Incis available-for-sale debt securities at December 31, 2020, was $203,800; its cost was $139,400. No securities were purchased during the year....
36. On January 1, 2017, Blanton Company's Valuation Allowance for Trading Investments! account has a debit balance of $22,500. On December 31, 2017, the cost of the trading securities portfolio was $80,000. The fair value was $98,000. Which of the following would Blanton report on the income statement for 2017? a. an Unrealized Loss on Trading Investments of $4,500. b. an Unrealized Gain on Trading Investments of $4.500. c. an Unrealized Gain on Trading Investments of S18,000. d. an Unrealized...
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