At January 1, 2020, the available-for-sale securities portfolio held by Stir Corporation consisted of the following...
At January 1, 2020, the available-for-sale securities portfolio held by Stir Corporation consisted of the following investments:
1. 6,500 shares of Moon common stock purchased for $56 per share.
2. 1,500 shares of Sun common stock purchased for $43 per share.
At December 31, 2020, the market values per share were Moon $46 and Sun $48.
Prepare the adjusting entry to report the portfolio at fair value at December 31, 2020 ( write down the steps please!)
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At January 1, 2020, the available-for-sale securities portfolio
held by Stir Corporation consisted of the following...
40) PZ Inc. has $200,000 of ending finished goods inventory as of December 31, 2019. If...
40) PZ Inc. has $200,000 of ending finished goods inventory as of December 31, 2019. If beginning finished goods inventory was $114,000 and cost of goods sold was $80,000, how much would PZ report for cost of goods manufactured? a. $170,000 b. $166,000 c. $160,000 d. $140,000 41) At January 1, 2020, the available-for-sale securities portfolio held by Stir Corporation consisted of the following investments: 1. 6,500 shares of Moon common stock purchased for $56 per share. 2. 1,500 shares...
During 2019 the trading securities portfolio held by the Edelman Corporation consisted of the following investments...
During 2019 the trading securities portfolio held by the Edelman Corporation consisted of the following investments: 1. 2. 2,000 shares of Bauer common stock purchased for $80,000. 1,500 shares of Snow common stock purchased for $60,000. At December 31, 2019, the fair values per share were Bauer $36 and Snow $45. Instructions (a) Prepare a schedule showing the cost and fair value of the portfolio at December 31, 2019. Investment Cost 80,000 60, 6 Oo Fair Value Unrealized Gain /...
2. On December 31, 2020 Woods International owned the following securities held as a long-term investment....
2. On December 31, 2020 Woods International owned the following securities held as a long-term investment. The securities were not held for influence or control of the investee. Common Stock Shares Cost Trevino Co. 2,000 $60,000 Player Co. 5,000 45,000 Palmer Co. 1,500 30,000 On December 31, 2020, the total fair value of the securities was equal to their cost. In 2021 the following transactions occurred. July 1 Received $1 per share semiannual dividend on Player Co. common stock. Aug....
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,...
The following are in Colt Company’s portfolio of long-term available-for-sale securities at December 31, 2016. Total...
The following are in Colt Company’s portfolio of long-term available-for-sale securities at December 31, 2016. Total Cost 500 shares of Bonds Corporation common stock $26,000 700 shares of Penn Corporation common stock 42,000 600 shares of Gibbens Corporation preferred stock 16,800 On December 31, the total cost of the portfolio equaled total fair value. Colt Company had the following transactions related to the securities during 2017. Jan. 7: Sold 500 shares of Bonds Corporation common stock at $56 per share. Jan. 10: Purchased...
Sage Company has the following securities in its portfolio on December 31, 2020. None of these...
Sage 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
$77,600
$73,200
5,000 shares of Wallace
Corp., Common
172,900
167,700
400 shares of Martin, Inc.,
Preferred
63,500
65,100
$314,000
$306,000
All of the securities were purchased in 2020.
In 2021, Sage completed the following securities
transactions.
March 1
Sold the 1,500 shares of
Gordon, Inc., Common,...
Indigo Company has the following securities in its portfolio on December 31, 2020. None of these...
Indigo 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, Indigo completed the following securities transactions March 1 Sold the 1,500 shares of Gordon, Inc., Common,...
Larkspur Company has the following securities in its investment portfolio on December 31, 2020 (all securities...
Larkspur Company has the following securities in its investment portfolio on December 31, 2020 (all securities were purchased in 2020): (1) 2,800 shares of Anderson Co. common stock which cost $53,200, (2) 10,700 shares of Munter Ltd. common stock which cost $599,200, and (3) 6,000 shares of King Company preferred stock which cost $258,000. The Fair Value Adjustment account shows a credit of $10,100 at the end of 2020. In 2021, Larkspur completed the following securities transactions. 1. On January...
40) PZ Inc. has $200,000 of ending finished goods inventory as of December 31, 2019. If beginning finished goods inventory was $114,000 and cost of goods sold was $80,000, how much would PZ report for cost of goods manufactured? a. $170,000 b. $166,000 c. $160,000 d. $140,000 41) At January 1, 2020, the available-for-sale securities portfolio held by Stir Corporation consisted of the following investments: 1. 6,500 shares of Moon common stock purchased for $56 per share. 2. 1,500 shares...
During 2019 the trading securities portfolio held by the Edelman Corporation consisted of the following investments: 1. 2. 2,000 shares of Bauer common stock purchased for $80,000. 1,500 shares of Snow common stock purchased for $60,000. At December 31, 2019, the fair values per share were Bauer $36 and Snow $45. Instructions (a) Prepare a schedule showing the cost and fair value of the portfolio at December 31, 2019. Investment Cost 80,000 60, 6 Oo Fair Value Unrealized Gain /...
2. On December 31, 2020 Woods International owned the following securities held as a long-term investment. The securities were not held for influence or control of the investee. Common Stock Shares Cost Trevino Co. 2,000 $60,000 Player Co. 5,000 45,000 Palmer Co. 1,500 30,000 On December 31, 2020, the total fair value of the securities was equal to their cost. In 2021 the following transactions occurred. July 1 Received $1 per share semiannual dividend on Player Co. common stock. Aug....
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,...
Sage 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
$77,600
$73,200
5,000 shares of Wallace
Corp., Common
172,900
167,700
400 shares of Martin, Inc.,
Preferred
63,500
65,100
$314,000
$306,000
All of the securities were purchased in 2020.
In 2021, Sage completed the following securities
transactions.
March 1
Sold the 1,500 shares of
Gordon, Inc., Common,...
Indigo 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, Indigo completed the following securities transactions March 1 Sold the 1,500 shares of Gordon, Inc., Common,...
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