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Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the...
Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the...
Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the investments in bonds listed below. None was held at the last reporting date, December 31, 2020, and all are considered securities available-for-sale. Unrealized Holding Gain (Loss) Cost Fair Value $ 508,000 464,000 $ 972,000 $ 391,000 508,000 $ 899,000 $(117,000) 44,000 $ (73,000) Short term: Blair, Inc. ANC Corporation Totals Long term: Drake Corporation Aaron Industries Totals $ 508,000 $ 574,000 706,000 674,000 $1,214,000...
Rantzow-Lear Company buys and sells debt securities expecting to earn profits on short-term differences in price,...
Rantzow-Lear Company buys and sells debt securities expecting to earn profits on short-term differences in price, and holds these investments in its trading portfolio. The company's fiscal year ends on December 31. The following selected transactions relating to Rantzow-Lear's trading account occurred during December 2021 and the first week of 2022. 2021 Dec. 17 Purchased 160 Grocers Supply Corporation bonds at par for $560,000. 28 Received interest of $4,400 from the Grocers' Supply Corporation bonds. 31 Recorded any necessary adjusting...
Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the...
Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the investments in bonds listed below. None was held at the last reporting date, December 31, 2020, and all are considered securities available-for-sale. Unrealized Holding Gain (Loss) $(99,000) 38,000 $(61,000) Cost Fair Value Short term: Blair, Inc. $ 496,000 $ 397,000 ANC Corporation 458,000 496,000 Totals $ 954,000 $ 893,000 Long term: Drake $ 496,000 $ 568,000 Corporation Aaron 712,000 668,000 Industries Totals $1,208,000 $1,236,000...
Loreal-American Corporation purchased several marketable securities during 2018. At December 31, 2018, the company had the...
Loreal-American Corporation purchased several marketable securities during 2018. At December 31, 2018, the company had the investments in bonds listed below. None was held at the last reporting date, December 31, 2017, and all are considered securities available-for-sale. Cost Fair Value Unrealized Holding Gain (Loss) Short term: Blair, Inc. $ 514,000 $ 388,000 $ (126,000 ) ANC Corporation 467,000 514,000 47,000 Totals $ 981,000 $ 902,000 $ (79,000 ) Long term: Drake Corporation $ 514,000 $ 577,000 $ 63,000 Aaron...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE. THANK YOU! Exercise 12-9 (Algo) Securities...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE.
THANK YOU!
Exercise 12-9 (Algo) Securities available-for-sale, adjusting entries (LO12-4] Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the Investments in bonds listed below. None was held at the last reporting date, December 31, 2020. and all are considered securities available-for-sale. Unrealized Holding Gain (Loss) Cost Fair Value $ 488.888 454,800 942,800 $ 481.888 488,888 $ 889, $(87.680) 34,000 $(53,000) $ Short term:...
At December 31, 2021, Jeter Corporation had the following debt securities that were purchased during 2021,...
At December 31, 2021, Jeter Corporation had the following debt securities that were purchased during 2021, its first year of operation: Fair Unrealized Cost Value Gain (Loss) Trading Securities: Security A $ 85,000 $ 65,000 $(20,000) 15,000 20,000 5,000 Totals $100,000 $ 85,000 $(15,000) Available-for-Sale Securities: Security Y $ 70.000 $ 80,000 $ 10,000 Z 85,000 55,000 (30,000) Totals $ 155,000 $135.000 $(20,000) All market declines are considered temporary. Fair value adjustments at December 31, 2021 should be established with...
At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its...
At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Trading Securities: Security A $ 950,000 $ 965,000 Security B 155,000 149,000 Totals $ 1,105,000 $ 1,114,000 Securities Available-for-Sale: Security C $ 750,000 $ 825,000 Security D 950,000 967,000 Totals $ 1,700,000 $ 1,792,000 Securities to Be Held-to-Maturity: Security E $ 540,000 $ 551,000 Security F 665,000 659,000 Totals $ 1,205,000 $ 1,210,000 No investments were sold during 2021. All...
At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its...
At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Amortized cost Fair Value $ 915,000 120,000 $1,035,000 $ 926,500 114,700 $1,041,200 Trading Securities: Security A Security B Totals Securities Available-for-Sale: Security C Security D Totals Securities to Be Held-to-Maturity: Security E Security F Totals $ 715,000 915,000 $1,630,000 $ 793,500 930, 600 $1,724,100 $ 505,000 630,000 $1,135,000 $ 515,400 624,700 $1,140,100 No investments were sold during 2021. All securities...
At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its...
At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Amortized cost Fair Value Trading Securities: Security A Security B $ 935,000 140,000 2$ 948,500 134,300 Totals $1,075,000 $1,082,800 Securities Available-for-Sale: Security c Security D 2$ 735,000 811,500 951,400 935,000 Totals $1,670,000 $1,762,900 Securities to Be Held-to-Maturity: Security E Security F $525,000 650,000 535,700 644,300 Totals $1,175,000 $1,180,000 No investments were sold during 2021. All securities except Security D and...
The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company...
The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio. Ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020. Mar. 31 Acquired 8% Distribution Transformers Corporation bonds costing $550,000 at face value. Sep. 1 Acquired $1,350,000 of American Instruments' 10% bonds at face value. Sep. 30 Received...
Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the investments in bonds listed below. None was held at the last reporting date, December 31, 2020, and all are considered securities available-for-sale. Unrealized Holding Gain (Loss) Cost Fair Value $ 508,000 464,000 $ 972,000 $ 391,000 508,000 $ 899,000 $(117,000) 44,000 $ (73,000) Short term: Blair, Inc. ANC Corporation Totals Long term: Drake Corporation Aaron Industries Totals $ 508,000 $ 574,000 706,000 674,000 $1,214,000...
Rantzow-Lear Company buys and sells debt securities expecting to earn profits on short-term differences in price, and holds these investments in its trading portfolio. The company's fiscal year ends on December 31. The following selected transactions relating to Rantzow-Lear's trading account occurred during December 2021 and the first week of 2022. 2021 Dec. 17 Purchased 160 Grocers Supply Corporation bonds at par for $560,000. 28 Received interest of $4,400 from the Grocers' Supply Corporation bonds. 31 Recorded any necessary adjusting...
Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the investments in bonds listed below. None was held at the last reporting date, December 31, 2020, and all are considered securities available-for-sale. Unrealized Holding Gain (Loss) $(99,000) 38,000 $(61,000) Cost Fair Value Short term: Blair, Inc. $ 496,000 $ 397,000 ANC Corporation 458,000 496,000 Totals $ 954,000 $ 893,000 Long term: Drake $ 496,000 $ 568,000 Corporation Aaron 712,000 668,000 Industries Totals $1,208,000 $1,236,000...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE.
THANK YOU!
Exercise 12-9 (Algo) Securities available-for-sale, adjusting entries (LO12-4] Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the Investments in bonds listed below. None was held at the last reporting date, December 31, 2020. and all are considered securities available-for-sale. Unrealized Holding Gain (Loss) Cost Fair Value $ 488.888 454,800 942,800 $ 481.888 488,888 $ 889, $(87.680) 34,000 $(53,000) $ Short term:...
At December 31, 2021, Jeter Corporation had the following debt securities that were purchased during 2021, its first year of operation: Fair Unrealized Cost Value Gain (Loss) Trading Securities: Security A $ 85,000 $ 65,000 $(20,000) 15,000 20,000 5,000 Totals $100,000 $ 85,000 $(15,000) Available-for-Sale Securities: Security Y $ 70.000 $ 80,000 $ 10,000 Z 85,000 55,000 (30,000) Totals $ 155,000 $135.000 $(20,000) All market declines are considered temporary. Fair value adjustments at December 31, 2021 should be established with...
At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Amortized cost Fair Value $ 915,000 120,000 $1,035,000 $ 926,500 114,700 $1,041,200 Trading Securities: Security A Security B Totals Securities Available-for-Sale: Security C Security D Totals Securities to Be Held-to-Maturity: Security E Security F Totals $ 715,000 915,000 $1,630,000 $ 793,500 930, 600 $1,724,100 $ 505,000 630,000 $1,135,000 $ 515,400 624,700 $1,140,100 No investments were sold during 2021. All securities...
At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Amortized cost Fair Value Trading Securities: Security A Security B $ 935,000 140,000 2$ 948,500 134,300 Totals $1,075,000 $1,082,800 Securities Available-for-Sale: Security c Security D 2$ 735,000 811,500 951,400 935,000 Totals $1,670,000 $1,762,900 Securities to Be Held-to-Maturity: Security E Security F $525,000 650,000 535,700 644,300 Totals $1,175,000 $1,180,000 No investments were sold during 2021. All securities except Security D and...
The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio. Ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020. Mar. 31 Acquired 8% Distribution Transformers Corporation bonds costing $550,000 at face value. Sep. 1 Acquired $1,350,000 of American Instruments' 10% bonds at face value. Sep. 30 Received...
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