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Exercise 17-10 (Part Level Submission) At December 31, 2017, the available for sale debt portfolio for...
Exercise 17-9 (Part Level Submission) At December 31, 2017, the available-for-sale debt portfolio for Blossom, Inc....
Exercise 17-9 (Part Level Submission) At December 31, 2017, the available-for-sale debt portfolio for Blossom, Inc. is as follows. Security Cost Fair Value $24,500 $21,000 B 17,500 19,600 32,200 35,700 Total $74,200 $76,300 Previous fair value adjustment balance-Dr. Fair value adjustment-Dr. Unrealized Gain (Loss) $(3,500) 2,100 3,500 2,100 560 $1,540 On January 20, 2018, Blossom, Inc. sold security A for $21,140. The sale proceeds are net of brokerage fees. (b) Show the balance sheet presentation of the investment-related accounts at...
At December 31, 2017, the available-for-sale debt portfolio for Whispering, Inc. is as follows: Unrealized Gain...
At December 31, 2017, the available-for-sale debt portfolio for Whispering, Inc. is as follows: Unrealized Gain (Loss) Security Cost Fair Value $44,625 $38,250 31,875 35,700 58,650 65,025 Total $135,150 $138,975 Previous fair value adjustment balance-Dr. Fair value adjustment-Dr. $(6,375 ) 3,825 6,375 3,825 1,020 $2,805 On January 20, 2018, Whispering, Inc. sold security A for $38,505. The sale proceeds are net of brokerage fees. Whispering Inc. reports net income in 2017 of $306,000 and in 2018 of $357,000. Unrealized holding...
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, 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, 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...
Exercise 17-9 At December 31, 2017, the available-for-sale debt portfolio for Cheyenne, Inc. is as follows....
Exercise 17-9 At December 31, 2017, the available-for-sale debt portfolio for Cheyenne, Inc. is as follows. Unrealized Gain (Loss) Security Cost Fair Value $21,000 15,000 27,600 $63,600 $18,000 16,800 30,600 $65,400 $(3,000) 1,800 3,000 1,800 480 $1,320 8 Total Previous fair value adjustment balance-Dr Fair value adjustment-Dr On January 20, 2018, Cheyenne, Inc. sold security A for $18,120. The sale proceeds are net of brokerage fees
Exercise 17-9 (Part Level Submission) At December 31, 2017, the available-for-sale debt portfolio for Skysong, Inc....
Exercise 17-9 (Part Level Submission) At December 31, 2017, the available-for-sale debt portfolio for Skysong, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $31,500 $27,000 $(4,500 ) B 22,500 25,200 2,700 C 41,400 45,900 4,500 Total $95,400 $98,100 2,700 Previous fair value adjustment balance—Dr. 720 Fair value adjustment—Dr. $1,980 On January 20, 2018, Skysong, Inc. sold security A for $27,180. The sale proceeds are net of brokerage fees. Collapse question part (a) Correct answer. Your answer...
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...
Exercise 17-9 (Part Level Submission) At December 31, 2017, the available-for-sale debt portfolio for Blossom, Inc. is as follows. Security Cost Fair Value $24,500 $21,000 B 17,500 19,600 32,200 35,700 Total $74,200 $76,300 Previous fair value adjustment balance-Dr. Fair value adjustment-Dr. Unrealized Gain (Loss) $(3,500) 2,100 3,500 2,100 560 $1,540 On January 20, 2018, Blossom, Inc. sold security A for $21,140. The sale proceeds are net of brokerage fees. (b) Show the balance sheet presentation of the investment-related accounts at...
At December 31, 2017, the available-for-sale debt portfolio for Whispering, Inc. is as follows: Unrealized Gain (Loss) Security Cost Fair Value $44,625 $38,250 31,875 35,700 58,650 65,025 Total $135,150 $138,975 Previous fair value adjustment balance-Dr. Fair value adjustment-Dr. $(6,375 ) 3,825 6,375 3,825 1,020 $2,805 On January 20, 2018, Whispering, Inc. sold security A for $38,505. The sale proceeds are net of brokerage fees. Whispering Inc. reports net income in 2017 of $306,000 and in 2018 of $357,000. Unrealized holding...
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...
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...
Exercise 17-9 At December 31, 2017, the available-for-sale debt portfolio for Cheyenne, Inc. is as follows. Unrealized Gain (Loss) Security Cost Fair Value $21,000 15,000 27,600 $63,600 $18,000 16,800 30,600 $65,400 $(3,000) 1,800 3,000 1,800 480 $1,320 8 Total Previous fair value adjustment balance-Dr Fair value adjustment-Dr On January 20, 2018, Cheyenne, Inc. sold security A for $18,120. The sale proceeds are net of brokerage fees
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...
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