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At December 31, 2020, the available-for-sale debt portfolio for Oriole, Inc. is as follows. 100 Security...
At December 31, 2020, the available-for-sale debt portfolio for Oriole, Inc. is as follows. Security Cost...
At December 31, 2020, the available-for-sale debt portfolio for Oriole, Inc. is as follows. Security Cost Fair Value $17,500 $14,500 11,500 15,400 23,000 25,900 Total $52,000 $55,800 Previous fair value adjustment balance- Dr. Fair value adjustment-Dr. Unrealized Gain (Loss) $13,000) 3,900 2,900 3,800 300 $3,500 On January 20, 2021, Oriole, Inc. sold security A for $14,600. The sale proceeds are net of brokerage fees. Oriole, Inc. reports net income in 2020 of $125,000 and in 2021 of $135,000. Total holding...
At December 31, 2020, the available-for-sale debt portfolio for Blossom, Inc. is as follows. Security Cost...
At December 31, 2020, the available-for-sale debt portfolio for Blossom, Inc. is as follows. Security Cost Fair Value $17,000 $14,000 11,000 14,000 22,000 25,500 Total $50,000 $53,500 Previous fair value adjustment balance- Dr. Fair value adjustment-Dr. Unrealized Gain (Loss) $(3,000) 3,000 3,500 3,500 300 $3,200 On January 20, 2021, Blossom, Inc. sold security A for $14,100. The sale proceeds are net of brokerage fees. Blossom, Inc. reports net income in 2020 of $115,000 and in 2021 of $135,000. Total holding...
At December 31, 2020, the available-for-sale debt portfolio for Ivanhoe, Inc. is as follows. Security Cost...
At December 31, 2020, the available-for-sale debt portfolio for Ivanhoe, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $17,100 $14,200 $(2,900) B 11,800 15,300 3,500 C 22,000 25,600 3,600 Total $50,900 $55,100 4,200 Previous fair value adjustment balance—Dr. 300 Fair value adjustment—Dr. $3,900 On January 20, 2021, Ivanhoe, Inc. sold security A for $14,300. The sale proceeds are net of brokerage fees. Ivanhoe, Inc. reports net income in 2020 of $117,000 and in 2021 of $141,000....
At December 31, 2020, the available-for-sale debt portfolio for Wildhorse, Inc. is as follows. Security -...
At December 31, 2020, the available-for-sale debt portfolio for Wildhorse, Inc. is as follows. Security - Cost Fair Value $18,000 $15,300 12,500 14,500 22,200 25,500 Total $52,700 $55,300 Previous fair value adjustment balance-Dr. Fair value adjustment-Dr. Unrealized Gain (Loss) $(2,700 ) 2,000 3,300 2,600 300 $2,300 On January 20, 2021, Wildhorse, Inc. sold security A for $15,400. The sale proceeds are net of brokerage fees. Wildhorse, Inc. reports net income in 2020 of $122,000 and in 2021 of $142,000. Total...
At December 31, 2020, the available-for-sale debt portfolio for Cullumber, Inc. is as follows. Security Cost...
At December 31, 2020, the available-for-sale debt portfolio for Cullumber, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $17,600 $14,200 $(3,400 ) B 11,000 14,800 3,800 C 23,400 26,300 2,900 Total $52,000 $55,300 3,300 Previous fair value adjustment balance—Dr. 300 Fair value adjustment—Dr. $3,000 On January 20, 2021, Cullumber, Inc. sold security A for $14,300. The sale proceeds are net of brokerage fees. Cullumber, Inc. reports net income in 2020 of $123,000 and in 2021 of...
At December 31, 2020, the available-for-sale debt portfolio for Cullumber, Inc. is as follows. Security Cost...
At December 31, 2020, the available-for-sale debt portfolio for Cullumber, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $17,600 $14,200 $(3,400 ) B 11,000 14,800 3,800 C 23,400 26,300 2,900 Total $52,000 $55,300 3,300 Previous fair value adjustment balance—Dr. 300 Fair value adjustment—Dr. $3,000 On January 20, 2021, Cullumber, Inc. sold security A for $14,300. The sale proceeds are net of brokerage fees. Cullumber, Inc. reports net income in 2020 of $123,000 and in 2021 of...
At December 31, 2017, the available-for-sale debt portfolio for Bridgeport, Inc. is as follows. Security Cost...
At December 31, 2017, the available-for-sale debt portfolio for
Bridgeport, Inc. is as follows.
Security
Cost
Fair Value
Unrealized
Gain (Loss)
A
$114,625
$98,250
$(16,375
)
B
81,875
91,700
9,825
C
150,650
167,025
16,375
Total
$347,150
$356,975
9,825
Previous fair value adjustment balance—Dr.
2,620
Fair value adjustment—Dr.
$7,205
On January 20, 2018, Bridgeport, Inc. sold security A for $98,905.
The sale proceeds are net of brokerage fees.
Bridgeport Inc. reports net income in 2017 of $786,000 and in 2018
of...
At December 31, 2017, the available-for-sale debt portfolio for Sage, Inc. is as follows. Security Cost...
At December 31, 2017, the available-for-sale debt portfolio for
Sage, Inc. is as follows.
Security
Cost
Fair Value
Unrealized
Gain (Loss)
A
$70,875
$60,750
$(10,125
)
B
50,625
56,700
6,075
C
93,150
103,275
10,125
Total
$214,650
$220,725
6,075
Previous fair value adjustment balance—Dr.
1,620
Fair value adjustment—Dr.
$4,455
On January 20, 2018, Sage, Inc. sold security A for $61,155. The
sale proceeds are net of brokerage fees.
Sage Inc. reports net income in 2017 of $486,000 and in 2018 of...
At December 31, 2017, the available-for-sale debt portfolio for Cullumber, Inc. is as follows. Security Cost...
At December 31, 2017, the available-for-sale debt portfolio for
Cullumber, Inc. is as follows.
Security
Cost
Fair Value
Unrealized
Gain (Loss)
A
$97,125
$83,250
$(13,875
)
B
69,375
77,700
8,325
C
127,650
141,525
13,875
Total
$294,150
$302,475
8,325
Previous fair value adjustment balance—Dr.
2,220
Fair value adjustment—Dr.
$6,105
On January 20, 2018, Cullumber, Inc. sold security A for $83,805.
The sale proceeds are net of brokerage fees.
Cullumber Inc. reports net income in 2017 of $666,000 and in 2018
of...
Question 15 At December 31, 2017, the available-for-sale debt portfolio for Flint, Inc. is as follows....
Question 15
At December 31, 2017, the available-for-sale debt portfolio for
Flint, Inc. is as follows.
Security
Cost
Fair Value
Unrealized
Gain (Loss)
A
$175,875
$150,750
$(25,125
)
B
125,625
140,700
15,075
C
231,150
256,275
25,125
Total
$532,650
$547,725
15,075
Previous fair value adjustment balance—Dr.
4,020
Fair value adjustment—Dr.
$11,055
On January 20, 2018, Flint, Inc. sold security A for $151,755. The
sale proceeds are net of brokerage fees.
Flint Inc. reports net income in 2017 of $1,206,000 and in...
At December 31, 2020, the available-for-sale debt portfolio for Oriole, Inc. is as follows. Security Cost Fair Value $17,500 $14,500 11,500 15,400 23,000 25,900 Total $52,000 $55,800 Previous fair value adjustment balance- Dr. Fair value adjustment-Dr. Unrealized Gain (Loss) $13,000) 3,900 2,900 3,800 300 $3,500 On January 20, 2021, Oriole, Inc. sold security A for $14,600. The sale proceeds are net of brokerage fees. Oriole, Inc. reports net income in 2020 of $125,000 and in 2021 of $135,000. Total holding...
At December 31, 2020, the available-for-sale debt portfolio for Blossom, Inc. is as follows. Security Cost Fair Value $17,000 $14,000 11,000 14,000 22,000 25,500 Total $50,000 $53,500 Previous fair value adjustment balance- Dr. Fair value adjustment-Dr. Unrealized Gain (Loss) $(3,000) 3,000 3,500 3,500 300 $3,200 On January 20, 2021, Blossom, Inc. sold security A for $14,100. The sale proceeds are net of brokerage fees. Blossom, Inc. reports net income in 2020 of $115,000 and in 2021 of $135,000. Total holding...
At December 31, 2020, the available-for-sale debt portfolio for Wildhorse, Inc. is as follows. Security - Cost Fair Value $18,000 $15,300 12,500 14,500 22,200 25,500 Total $52,700 $55,300 Previous fair value adjustment balance-Dr. Fair value adjustment-Dr. Unrealized Gain (Loss) $(2,700 ) 2,000 3,300 2,600 300 $2,300 On January 20, 2021, Wildhorse, Inc. sold security A for $15,400. The sale proceeds are net of brokerage fees. Wildhorse, Inc. reports net income in 2020 of $122,000 and in 2021 of $142,000. Total...
At December 31, 2017, the available-for-sale debt portfolio for
Bridgeport, Inc. is as follows.
Security
Cost
Fair Value
Unrealized
Gain (Loss)
A
$114,625
$98,250
$(16,375
)
B
81,875
91,700
9,825
C
150,650
167,025
16,375
Total
$347,150
$356,975
9,825
Previous fair value adjustment balance—Dr.
2,620
Fair value adjustment—Dr.
$7,205
On January 20, 2018, Bridgeport, Inc. sold security A for $98,905.
The sale proceeds are net of brokerage fees.
Bridgeport Inc. reports net income in 2017 of $786,000 and in 2018
of...
At December 31, 2017, the available-for-sale debt portfolio for
Sage, Inc. is as follows.
Security
Cost
Fair Value
Unrealized
Gain (Loss)
A
$70,875
$60,750
$(10,125
)
B
50,625
56,700
6,075
C
93,150
103,275
10,125
Total
$214,650
$220,725
6,075
Previous fair value adjustment balance—Dr.
1,620
Fair value adjustment—Dr.
$4,455
On January 20, 2018, Sage, Inc. sold security A for $61,155. The
sale proceeds are net of brokerage fees.
Sage Inc. reports net income in 2017 of $486,000 and in 2018 of...
At December 31, 2017, the available-for-sale debt portfolio for
Cullumber, Inc. is as follows.
Security
Cost
Fair Value
Unrealized
Gain (Loss)
A
$97,125
$83,250
$(13,875
)
B
69,375
77,700
8,325
C
127,650
141,525
13,875
Total
$294,150
$302,475
8,325
Previous fair value adjustment balance—Dr.
2,220
Fair value adjustment—Dr.
$6,105
On January 20, 2018, Cullumber, Inc. sold security A for $83,805.
The sale proceeds are net of brokerage fees.
Cullumber Inc. reports net income in 2017 of $666,000 and in 2018
of...
Question 15
At December 31, 2017, the available-for-sale debt portfolio for
Flint, Inc. is as follows.
Security
Cost
Fair Value
Unrealized
Gain (Loss)
A
$175,875
$150,750
$(25,125
)
B
125,625
140,700
15,075
C
231,150
256,275
25,125
Total
$532,650
$547,725
15,075
Previous fair value adjustment balance—Dr.
4,020
Fair value adjustment—Dr.
$11,055
On January 20, 2018, Flint, Inc. sold security A for $151,755. The
sale proceeds are net of brokerage fees.
Flint Inc. reports net income in 2017 of $1,206,000 and in...
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