a | Date | General Journal | Debit | Credit |
20Y3, Dec. 31 | Unrealized Gain (Loss) on Trading Investments | 1,950 | ||
Valuation Allowance for Trading Investments | 1,950 | |||
($117,500 - $115,550) | ||||
b | 20Y4, May 10 | Investments - Carroll Inc. | 34,900 | |
Cash | 34,900 | |||
c | 20Y4, Dec 31 | Valuation Allowance for Trading Investments | 24,550 | |
Unrealized Gain (Loss) on Trading Investments | 24,550 | |||
($175,000 - $115,550 - 34,900) | ||||
d. | 150,450 | |||
Journal entries for trading investments Gruden Bancorp Inc. purchased a portfolio of trading securities during 2013,...
Fair Value Journal Entries, Trading Investments Gruden Bancorp Inc. purchased a portfolio of trading securities during Year 1. The cost and fair value of this portfolio on December 31, Year 1, was as follows: Name Number of Shares Total Cost Total Fair Value Griffin Inc. 1,300 $16,370 $17,420 26,240 Luck Company 800 24,400 Wilson Company 200 6,120 6,000 $49,660 Total $46,890 On May 10, Year 2, Gruden Bancorp Inc. purchased 500 shares of Carroll Inc., at $30 per share plus...
8 Fair Value Journal Entries, Trading Investments Gruden Bancorp Inc. purchased a portfolio of trading securities during Year 1. The cost and fair value of this portfolio on December 31, Year 1, was as follows: Name Number of Shares Total Cost Total Fair Value Griffin Inc. 1,300 $17,420 $16,370 Luck Company 900 29,520 27,450 Wilson Company 250 7,500 7,650 Total $54,440 $51,470 On May 10, Year 2, Gruden Bancorp Inc. purchased 550 shares of Carroll Inc., at $30 per share...
41. Fair Value Journal Entries, Trading Investments Gruden Bancorp Inc. purchased a portfolio of trading securities during Year 1. The cost and fair value of this portfolio on December 31, Year 1, was as follows: Name Number of Shares Total Cost Total Fair Value Griffin Inc. 1,400 $18,760 $17,630 Luck Company 21,320 19,830 650 350 Wilson Company 10,150 10,350 Total $50,230 $47,810 On May 10, Year 2, Gruden Bancorp Inc. purchased 500 shares of Carroll Inc., at $29 per share...
62. Gruden Bancorp Inc. purchased a portfolio of trading securities during Year 1. The cost and fair value of this portfolio on December 31, Year 1, was as follows: 1 Name Number of Shares Total Cost Total Fair Value 2 Griffin Inc. 1,480.00 $29,600.00 $32,560.00 3 Luck Company 1,230.00 31,980.00 25,830.00 4 Wilson Company 870.00 31,320.00 28,710.00 5 Total $92,900.00 $87,100.00 On May 10, Year 2, Gruden Bancorp Inc. purchased 980 shares of Carroll Inc. at $26 per share plus...
Fair Value Journal Entries, Trading Investments Jets Bancorp Inc. purchased a portfolio of trading securities during 2073. The cost and fair value of this portfolio on December 31, 20Y3, was as follows: Name Number of Shares Total Cost Total Fair Value Dolphins Inc. Marino Company 1,600 1,400 $28,800 35,000 21,000 $32,000 30,800 Namath Company 600 19,800 Total $84,800 $82,600 Journalize the entry to record the adjustment of the trading security portfolio to fair value on December 31, 20Y3. If an...
Fair Value Journal Entries, Trading Investments Last Unguaranteed Financial Inc. purchased the following trading securities during Year 1, its first year of operations: Name Number of Shares Cost Arden Enterprises Inc. 3,500 $73,150 French Broad Industries Inc. 1,300 20,800 Pisgah Construction Inc. 800 20,000 Total $113,950 The market price per share for the trading security portfolio on December 31, Year 1 was as follows: Market Price per Share Dec. 31, Year 1 Arden Enterprises Inc. $26.5 French Broad Industries Inc....
Fair Value Journal Entries, Trading Investments Storm, Inc. purchased the following trading securities during 2049, its first year of operations: Name Number of Shares Cost Dust Devil, Inc. 1,900 $81,700 Gale Co. 850 68,000 Whirlwind Co. 2,850 114,000 Total $263,700 The market price per share for the trading security portfolio on December 31, 2049, was as follows: Market Price per Share, Dec. 31, 2019 Dust Devil, Inc. $40 Gale Co. 75 Whirlwind Co. 42 a. Provide the journal entry to...
Calculator Fair Value Journal Entries, Trading Investments Last Unguaranteed Financial Inc. purchased the following trading securities during Year 1, its first year of operations: Number of Shares Cost Name Arden Enterprises Inc. 4,300 $87,720 French Broad Industries Inc. 1,100 16,830 Pisgah Construction Inc. 900 20,700 $125,250 Total The market price per share for the trading security portfolio on December 31, Year 1 was as follows: Market Price per Share Dec. 31, Year 1 $26 Arden Enterprises Inc. French Broad Industries...
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,...
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...