Sandhill Company | |
Balance Sheet (Partial) | |
Current Assets | |
Trading securities | 123,200 |
Long Term Investment | |
Securities available for sale | 90,600 |
Stockholders Equity | |
Unrealized loss on securities available for sale | 13200 |
Sandhill Company | |
Income Statement (Partial) | |
Unrealized gain on securities held for trading | 4600 |
Sandhill Company | |
Comprehensive Income Statement | |
Unrealized loss on securities available for sale | 13200 |
Exercise 16-12 a-b (Part Level Submission) (Video) Sandhill Company has the following data at December 31, 2020....
Exercise 16-12 a-b (Video) Sheridan Company has the following data at December 31, 2020. Securities Trading Available-for-sale Cost $121,500 101,100 Fair Value $125,000 93,800 The available-for-sale securities are held as a long-term investment. Your answer is correct. Prepare the adjusting entries to report: (1) Trading securities at fair value and (2) Available-for-sale securities at fair value. (Credit acc entry" for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit (1) Fair Value Adjustment-Trading...
Exercise 16-10 a-b (Part Level Submission) (Video) At December 31, 2020, the trading securities for Cullumber, Inc. are as follows. Security Cost Fair Value A $17,900 $15,600 B 12,600 14,300 C 23,100 18,900 $53,600 $48,800 (a) Your answer is correct. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account...
Question 8 View Policies Show Attempt History Current Attempt in Progress Crane Company has these data at December 31, 2020, the end of its first year of operations. Fair Value Debt Securities Cost $117,940 $130,640 Trading Available-for-sale 102,200 93,030 The available-for-sale securities are held as a long-term investment. (b) Your answer is partially correct. Indicate the statement presentation of each class of securities and the related unrealized gain (loss) accounts. (Enter negative amounts using either Crane Company (Partial) Balance Sheet...
what do you mean 1:11 PM Sun Feb 9 20% C16 #2 Exercise 16-12a-b (Video) Cullumber Company has the following data at December 31, 2020. Securities Fair Value Trading Available for sale Cost $119,400 102,100 $126,900 90,500 The available-for-sale securities are held as a long-term investment Prepare the adjusting entries to report: (1) Trading securities at fair value and (2) Available-for-sale securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If...
12:19 PM Sun Feb 9 C16 #2 At December 31, 2020, the trading securities for Sandhill, Inc. are as follows. Security Cost Fair Value $16,300 13,800 $17,100 12,800 22,600 $52,500 $49.000 Your answer is partially correct. Try again. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and...
Exercise 16-11 a-b (Part Level Submission) At December 31, 2020, the available-for-sale debt securities for Sandhill, Inc. are as follows. The securities are considered to be a long-term investment. Security Cost Fair Value $17,300 12,500 22,500 $52,300 $16,400 14,100 18,700 $49,200 (a) Your answer is partially correct. Try again. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...
At December 31, 2020, the available-for-sale debt securities for Storrer, Inc. are as follows. The securities are considered to be a long-term investment. Security Cost Fair Value A $17,500 $16,000 B 12,500 14,000 C 23,000 21,000 $53,000 $51,000 Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and...
Problem 15-12 (AICPA Adapted) Nightmare Company provided the following information on December 31, 2019 regarding the portfolio of equity securities: Aggregate cost 1,700,000Unrealized gains 40,000Unrealized losses 260,000Net realized gains during the current year 300,000The equity investments are measured at fair value through other comprehensive income. On January 1, 2019, the entity reported an unrealized loss of P15,000 to reduce investments to market on a portfolio basis. In the December 31, 2019 statement of changes in equity what amount of unrealized loss should be reported? a. 260,000 b. 220,000 c....
Exercise 16-10 a-b (Part Level Submission) (Video) At December 31, 2020, the trading securities for Blossom, Inc. are as follows. Security Cost $17,000 12,000 22,500 $51.500 Fair Value $15,500 13,500 18,500 $47.500 Your answer is partially correct. Try again Prepare the adjusting entry of December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Il ne entry is require select "Moetry for the account titles and...
On January 1, 2020, Sarasota Inc. had the following balance sheet. Assets Cash Debt investments (available-for-sale) Total SARASOTA INC. BALANCE SHEET AS OF JANUARY 1, 2020 Equity $54,600 Common stock 238,100 Accumulated other comprehensive income $292,700 Total $273,300 19,400 $292,700 The accumulated other comprehensive income related to unrealized holding gains on available-for-sale debt securities. The fair value of Sarasota Incis available-for-sale debt securities at December 31, 2020, was $203,800; its cost was $139,400. No securities were purchased during the year....