QS 15-7 Available-for-sale securities LO P3 Journ Co. purchased short-term investments in available-for-sale securities at a...
QS 15-7 Available-for-sale securities LO P3
Journ Co. purchased short-term investments in available-for-sale
securities at a cost of $66,000 on November 25, 2017. At December
31, 2017, these securities had a fair value of $61,400. This is the
first and only time the company has purchased such
securities.
1. & 3. Prepare the December 31, 2017,
year-end adjusting entry for the securities' portfolio and the
April 6, 2018, entry when Journ sells one-half of these securities
for $34,320.
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QS 15-7 Available-for-sale securities LO P3
Journ Co. purchased short-term investments in available-for-sale
securities at a...
Journ Co. purchased short-term investments in available-for-sale securities at a cost of $55,000 on November 25,...
Journ Co. purchased short-term investments in available-for-sale securities at a cost of $55,000 on November 25, 2017. At December 31, 2017, these securities had a fair value of $51,500. This is the first and only time the company has purchased such securities 1. & 3. Prepare the December 31, 2017 year-end adjusting entry for the securities' portfolio and the April 6, 2018, entry when Journ sells one-half of these securities for $28,600. View transaction list Journal entry worksheet < 1...
Exercise 15-10 Multiyear fair value adjustments to available-for-sale securities LO P3 TIcker Services began operations in...
Exercise 15-10 Multiyear fair value adjustments to available-for-sale securities LO P3 TIcker Services began operations in 2015 and maintains long-term Investments in avalilable-for-sale securities. The year-end cost and fair values for its portfolio of these investments follow rtfolio of Available-for-Sale Securitien December 31, 2015 December 31, 2016 December 31, 2017 December 31, 2018 Cost Fair Value 352,060 $341,49 401,340 45,833 824,208 425, 429 645,720 733,545 Prepare journal entries to record each year-end fair value adjustment for these securities We were...
Exercise 15-10 Multiyear fair value adjustments to available-for-sale securities LO P3 Ticker Services began operations in...
Exercise 15-10 Multiyear fair value adjustments to available-for-sale securities LO P3 Ticker Services began operations in 2015 and maintains long-term investments in available-for-sale securities. The year-end cost and fair values for its portfolio of these investments follow Portfolio of Available-for-Sale Securities December 31, 2015 December 31, 2016 December 31, 2017 December 31, 2018 Cost $301,840 344,098 467,973 706,639 Fair Value $292, 785 364, 744 553,612 628,909 Prepare journal entries to record each year-end fair value adjustment for these securities Complete...
3. 4. Exercise 15-5 Fair value adjustment to available-for-sale debt securities LO P3 On December 31,...
3.
4.
Exercise 15-5 Fair value adjustment to available-for-sale debt securities LO P3 On December 31, Luack Co held the following short-term available for sale securities Lack had no short-term investments prior to the current period. Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities Complete this question by entering your answers in the tabs below. Fair Value Adjustment Ceneral Journal Computation of fair value adjustment Computation of Fair Value Adjustment Cost...
Prescrip Co. began operations in 2016. The cost and fair values for its long-term investments portfolio in available-for...
Prescrip Co. began operations in 2016. The cost and fair values for its long-term investments portfolio in available-for-sale securities are shown below. Prepare the December 31, 2017, adjusting entry to reflect any necessary fair value adjustment for these investments. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Portfolio of Available-for-Sale Securities Cost Fair Value December 31, 2016 $ 75,519 $ 68,722 December 31, 2017 81,156 86,025
exercise 15-5 please on December 31, Lujack Co. held the following short-term available-for-sale securities. Lujack had...
exercise 15-5 please
on December 31, Lujack Co. held the following short-term available-for-sale securities. Lujack had no short-term investments prior to the current period. Prepare the December 31 year-end adjusting entry to racord the fair value adjustment for these debt securities. Exercise 15-5 Fair value adjustment to available-for-sale debt securities Available-for-Sale Securities Nintendo Co. notes......... Atlantic bonds........ Kellogg Co. notes ............ McDonald's Corp, bonds. Cost $44,450 49,000 25,000 46,300 Fair Value $48,900 47.000 23,200 44,800 in aynilahlr-for-sale debt Exercise 15-6
Chapter 15 Investments 655 Co.'s long-term available-for-sale portfolio at December 31, 2016, con...
Chapter 15 Investments 655 Co.'s long-term available-for-sale portfolio at December 31, 2016, consists of the following. Available-for-Sale Securities 40,000 shares of Company A common stock. 7,000 shares of Company B common stock 17,500 shares of Company C common stock. Problem 15-5A Long-term investment transactions; unrealized and realized gains and losses C2 P3 P4 Fair Value Cost $535,300 159,380 $490,000 154,000 640,938 to the following long-term investment transactions during year 2017. ng Sold 3,500 shares of Company B common stock for...
Chec Problem 15-3A Recording, adjusting, and reporting long-term available-for-sale securities LO P3 [The following information applies...
Chec Problem 15-3A Recording, adjusting, and reporting long-term available-for-sale securities LO P3 [The following information applies to the questions displayed below) Grass Security, which began operations in 2017, invests in long-term available-for-sale securities. Following is a series of transactions and events determining its long-term investment activity 2017 Jan. 20 Purchased 1,300 shares of Johnson & Johnson at $20.80 per share plus a $278 commission. Feb. 9 Purchased 1,580 shares of Sony at $46.5e per share plus a $255 commission. une...
Stoll Co.'s long-term available for sale portfolio at the start of this year consists of the...
Stoll Co.'s long-term available for sale portfolio at the start of this year consists of the following. Available-for-Sale Securities Company A bonds Company B notes Company C bonds Cost $534,300 159,49€ 661,9ee Fair Value $490, eee 148,888 644,280 Stoll enters into the following transactions involving its available-for-sale debt securities this year. Jan. 29 Sold one-half of the Company B notes for $78,5ee. July 6 Purchased bonds of Company X for $120,600. Nov. 13 Purchased notes of Company Z for $267,000....
Exercise 15-5 Accounting for short-term avaliable-for-sale securities LO P3 Prepare journal entries to record the following...
Exercise 15-5 Accounting for short-term avaliable-for-sale securities LO P3 Prepare journal entries to record the following transactions involving the short-term securities investments of Krum Co., all of which occurred during year 2017. a. On August 1, paid $70,000 cash to purchase Houtte's 8% debt securities ($70,000 principal), dated July 30, 2017, and maturing January 30, 2018 (categorized as available-for-sale securities). b. On October 30, received a check from Houtte for 90 days' interest on the debt securities purchased in transaction...
Journ Co. purchased short-term investments in available-for-sale securities at a cost of $55,000 on November 25, 2017. At December 31, 2017, these securities had a fair value of $51,500. This is the first and only time the company has purchased such securities 1. & 3. Prepare the December 31, 2017 year-end adjusting entry for the securities' portfolio and the April 6, 2018, entry when Journ sells one-half of these securities for $28,600. View transaction list Journal entry worksheet < 1...
Exercise 15-10 Multiyear fair value adjustments to available-for-sale securities LO P3 TIcker Services began operations in 2015 and maintains long-term Investments in avalilable-for-sale securities. The year-end cost and fair values for its portfolio of these investments follow rtfolio of Available-for-Sale Securitien December 31, 2015 December 31, 2016 December 31, 2017 December 31, 2018 Cost Fair Value 352,060 $341,49 401,340 45,833 824,208 425, 429 645,720 733,545 Prepare journal entries to record each year-end fair value adjustment for these securities We were...
Exercise 15-10 Multiyear fair value adjustments to available-for-sale securities LO P3 Ticker Services began operations in 2015 and maintains long-term investments in available-for-sale securities. The year-end cost and fair values for its portfolio of these investments follow Portfolio of Available-for-Sale Securities December 31, 2015 December 31, 2016 December 31, 2017 December 31, 2018 Cost $301,840 344,098 467,973 706,639 Fair Value $292, 785 364, 744 553,612 628,909 Prepare journal entries to record each year-end fair value adjustment for these securities Complete...
3.
4.
Exercise 15-5 Fair value adjustment to available-for-sale debt securities LO P3 On December 31, Luack Co held the following short-term available for sale securities Lack had no short-term investments prior to the current period. Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities Complete this question by entering your answers in the tabs below. Fair Value Adjustment Ceneral Journal Computation of fair value adjustment Computation of Fair Value Adjustment Cost...
exercise 15-5 please
on December 31, Lujack Co. held the following short-term available-for-sale securities. Lujack had no short-term investments prior to the current period. Prepare the December 31 year-end adjusting entry to racord the fair value adjustment for these debt securities. Exercise 15-5 Fair value adjustment to available-for-sale debt securities Available-for-Sale Securities Nintendo Co. notes......... Atlantic bonds........ Kellogg Co. notes ............ McDonald's Corp, bonds. Cost $44,450 49,000 25,000 46,300 Fair Value $48,900 47.000 23,200 44,800 in aynilahlr-for-sale debt Exercise 15-6
Chapter 15 Investments 655 Co.'s long-term available-for-sale portfolio at December 31, 2016, consists of the following. Available-for-Sale Securities 40,000 shares of Company A common stock. 7,000 shares of Company B common stock 17,500 shares of Company C common stock. Problem 15-5A Long-term investment transactions; unrealized and realized gains and losses C2 P3 P4 Fair Value Cost $535,300 159,380 $490,000 154,000 640,938 to the following long-term investment transactions during year 2017. ng Sold 3,500 shares of Company B common stock for...
Chec Problem 15-3A Recording, adjusting, and reporting long-term available-for-sale securities LO P3 [The following information applies to the questions displayed below) Grass Security, which began operations in 2017, invests in long-term available-for-sale securities. Following is a series of transactions and events determining its long-term investment activity 2017 Jan. 20 Purchased 1,300 shares of Johnson & Johnson at $20.80 per share plus a $278 commission. Feb. 9 Purchased 1,580 shares of Sony at $46.5e per share plus a $255 commission. une...
Stoll Co.'s long-term available for sale portfolio at the start of this year consists of the following. Available-for-Sale Securities Company A bonds Company B notes Company C bonds Cost $534,300 159,49€ 661,9ee Fair Value $490, eee 148,888 644,280 Stoll enters into the following transactions involving its available-for-sale debt securities this year. Jan. 29 Sold one-half of the Company B notes for $78,5ee. July 6 Purchased bonds of Company X for $120,600. Nov. 13 Purchased notes of Company Z for $267,000....
Exercise 15-5 Accounting for short-term avaliable-for-sale securities LO P3 Prepare journal entries to record the following transactions involving the short-term securities investments of Krum Co., all of which occurred during year 2017. a. On August 1, paid $70,000 cash to purchase Houtte's 8% debt securities ($70,000 principal), dated July 30, 2017, and maturing January 30, 2018 (categorized as available-for-sale securities). b. On October 30, received a check from Houtte for 90 days' interest on the debt securities purchased in transaction...
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