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Problem The Cooper Corporation has the following investments in the shares of other corporations as at December 31,...
Problem 1 The Cooper Corporation has the following investments in the shares of other corporations as...
Problem 1 The Cooper Corporation has the following investments in the shares of other corporations as at December 31, 20x3: Company Marcus Corp. Andy Inc. Rory Company Original Cost $260,000 310,000 95,000 $665,000 Carrying Value $230,000 340,000 88,000 $658,000 Fair Value $191,000 374,000 95,000 $660,000 The following transactions occurred during 20x4: Marcus was sold for $185,000 less $8,200 of brokerage fees Rory was sold for $102,000 less $3,200 of brokerage fees Bankley Corp shares were purchased for $340,000 plus $6,700...
please Help! I really need help for this question! London Ltd. reported the following transactions and...
please Help! I really need help for this question!
London Ltd. reported the following transactions and information regarding the shares of Dolma Corp: 15 October 20X2, purchased 3,000 shares at $44 per share plus $1,200 commission. 1 December 20X2, received $0.50 per share cash dividend. 31 December 20X2, fair value is $38 per share. 1 December 20X3, received $0.50 per share cash dividend. 31 December 20X3, fair value is $47 per share. 15 November 20X4, sold 1,000 shares at $42...
Sarasota Corporation had the following portfolio of investments at December 31, 2020, that qualified and were...
Sarasota Corporation had the following portfolio of investments at December 31, 2020, that qualified and were accounted for using the FV OCI method: Quantity Frank Inc 2.200 shares Ellis Corp. 5.400 shares Mendota Ltd. 4.400 shares Percent Cost per Fair Value Interest Share per Share 8% $11 $16 14% 21 17 2% 33 26 Early in 2021, Sarasota sold all the Frank Inc. shares for $17 per share, less a 1% commission on the sale.On December 31, 2021. Sarasota's portfolio...
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...
Ayayai Corporation made the following purchases of investments during 2020, the first year in which Ayayai...
Ayayai Corporation made the following purchases of investments
during 2020, the first year in which Ayayai invested in equity
securities:
1.
On January 15, purchased 8,100 shares of Nirmala Corp.’s common
shares at $30.10 per share plus commission of $1,782.
2.
On April 1, purchased 4,500 shares of Oxana Corp.’s common
shares at $47 per share plus commission of $3,033.
3.
On September 10, purchased 6,300 shares of WTA Corp.’s
preferred shares at $23.90 per share plus commission of
$2,619....
Sunland Company has the following securities in its portfolio on December 31, 2020. None of these...
Sunland Company has the following securities in its portfolio on
December 31, 2020. None of these investments are accounted for
under the equity method.
Investments
Cost
Fair Value
1,500 shares of Gordon, Inc., Common
$79,600
$74,700
5,000 shares of Wallace Corp., Common
170,900
165,800
400 shares of Martin, Inc., Preferred
65,800
67,200
$316,300
$307,700
All of the securities were purchased in 2020.
In 2021, Sunland completed the following securities
transactions.
March 1
Sold the 1,500 shares of Gordon, Inc., Common,...
Marigold Company has the following securities in its portfolio on December 31, 2020. None of these...
Marigold Company has the following securities in its portfolio on December 31, 2020. None of these investments are accounted for under the equity method. Investments Cost Fair Value 1,500 shares of Gordon, Inc., Common $69,700 $65,500 5,000 shares of Wallace Corp., Common 193,400 188,300 400 shares of Martin, Inc., Preferred 60,300 61,800 $323,400 $315,600 All of the securities were purchased in 2020. In 2021, Marigold completed the following securities transactions. March 1 Sold the 1,500 shares of Gordon, Inc., Common,...
Blue Company has the following securities in its portfolio on December 31, 2020. None of these...
Blue Company has the following securities in its portfolio on December 31, 2020. None of these investments are accounted for under the equity method. Investments Cost Fair Value 1,500 shares of Gordon, Inc., Common $76,900 $72,500 5,000 shares of Wallace Corp., Common 195,800 190,400 400 shares of Martin, Inc., Preferred 61,700 63,500 $334,400 $326,400 All of the securities were purchased in 2020. In 2021, Blue completed the following securities transactions. March 1 Sold the 1,500 shares of Gordon, Inc., Common,...
Whispering Winds Corp. has the following securities in its portfolio of equity securities on December 31,...
Whispering Winds Corp. has the following securities in its portfolio of equity securities on December 31, 2021: 5,000 shares of Thomas Corp., Common 10,000 shares of Gant, Common Cost $151,000 180,000 $331,000 Fair Value $138,600 187,700 $326,300 All of the securities had been purchased in 2021. In 2022, Whispering Winds Corp. completed the following securities transactions: March 1 Sold 5,000 shares of Thomas Corp., Common @ $31 less fees of $1,500. April 1 Bought 610 shares of Werth Stores, Common...
Ayayai Corporation made the following purchases of investments during 2020, the first year in which Ayayai...
Ayayai Corporation made the following purchases of investments during 2020, the first year in which Ayayai invested in equity securities: 1. On January 15, purchased 8,100 shares of Nirmala Corp.'s common shares at $30.10 per share plus commission of $1,782. 2. On April 1, purchased 4,500 shares of Oxana Corp.'s common shares at $47 per share plus commission of $3,033 3. On September 10, purchased 6,300 shares of WTA Corp.'s preferred shares at $23.90 per share plus commission of $2,619....
Problem 1 The Cooper Corporation has the following investments in the shares of other corporations as at December 31, 20x3: Company Marcus Corp. Andy Inc. Rory Company Original Cost $260,000 310,000 95,000 $665,000 Carrying Value $230,000 340,000 88,000 $658,000 Fair Value $191,000 374,000 95,000 $660,000 The following transactions occurred during 20x4: Marcus was sold for $185,000 less $8,200 of brokerage fees Rory was sold for $102,000 less $3,200 of brokerage fees Bankley Corp shares were purchased for $340,000 plus $6,700...
please Help! I really need help for this question!
London Ltd. reported the following transactions and information regarding the shares of Dolma Corp: 15 October 20X2, purchased 3,000 shares at $44 per share plus $1,200 commission. 1 December 20X2, received $0.50 per share cash dividend. 31 December 20X2, fair value is $38 per share. 1 December 20X3, received $0.50 per share cash dividend. 31 December 20X3, fair value is $47 per share. 15 November 20X4, sold 1,000 shares at $42...
Sarasota Corporation had the following portfolio of investments at December 31, 2020, that qualified and were accounted for using the FV OCI method: Quantity Frank Inc 2.200 shares Ellis Corp. 5.400 shares Mendota Ltd. 4.400 shares Percent Cost per Fair Value Interest Share per Share 8% $11 $16 14% 21 17 2% 33 26 Early in 2021, Sarasota sold all the Frank Inc. shares for $17 per share, less a 1% commission on the sale.On December 31, 2021. Sarasota's portfolio...
Ayayai Corporation made the following purchases of investments
during 2020, the first year in which Ayayai invested in equity
securities:
1.
On January 15, purchased 8,100 shares of Nirmala Corp.’s common
shares at $30.10 per share plus commission of $1,782.
2.
On April 1, purchased 4,500 shares of Oxana Corp.’s common
shares at $47 per share plus commission of $3,033.
3.
On September 10, purchased 6,300 shares of WTA Corp.’s
preferred shares at $23.90 per share plus commission of
$2,619....
Sunland Company has the following securities in its portfolio on
December 31, 2020. None of these investments are accounted for
under the equity method.
Investments
Cost
Fair Value
1,500 shares of Gordon, Inc., Common
$79,600
$74,700
5,000 shares of Wallace Corp., Common
170,900
165,800
400 shares of Martin, Inc., Preferred
65,800
67,200
$316,300
$307,700
All of the securities were purchased in 2020.
In 2021, Sunland completed the following securities
transactions.
March 1
Sold the 1,500 shares of Gordon, Inc., Common,...
Whispering Winds Corp. has the following securities in its portfolio of equity securities on December 31, 2021: 5,000 shares of Thomas Corp., Common 10,000 shares of Gant, Common Cost $151,000 180,000 $331,000 Fair Value $138,600 187,700 $326,300 All of the securities had been purchased in 2021. In 2022, Whispering Winds Corp. completed the following securities transactions: March 1 Sold 5,000 shares of Thomas Corp., Common @ $31 less fees of $1,500. April 1 Bought 610 shares of Werth Stores, Common...
Ayayai Corporation made the following purchases of investments during 2020, the first year in which Ayayai invested in equity securities: 1. On January 15, purchased 8,100 shares of Nirmala Corp.'s common shares at $30.10 per share plus commission of $1,782. 2. On April 1, purchased 4,500 shares of Oxana Corp.'s common shares at $47 per share plus commission of $3,033 3. On September 10, purchased 6,300 shares of WTA Corp.'s preferred shares at $23.90 per share plus commission of $2,619....
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