Question
Anthers Inc. bought the following portfolio of trading securities near the end of 2021. Security Cost...
Anthers Inc. bought the following portfolio of trading
securities near the end of 2021.
|
Security |
Cost |
Fair value 12/31/2021 |
||||
|
A |
$ |
80,000 |
$ |
84,000 |
||
|
B |
60,000 |
54,000 |
||||
|
C |
22,000 |
22,000 |
||||
What amount will be reported in the balance sheet for this
portfolio at December 31, 2021, and how will it be
classified?
|
Amount |
Classification |
|||
|
a. |
$ |
162,000 |
Noncurrent Asset |
|
|
b. |
$ |
162,000 |
Current Asset |
|
|
c. |
$ |
160,000 |
Noncurrent Asset |
|
|
d. |
$ |
160,000 |
Current Asset |
|
Multiple Choice
Option a.
Option c.
Option b.
Option d.
Homework Answers
Answer #1
In case you need any further explanation please comment below.
Thank you. Please upvote it.......
Not the answer you're looking for?
Similar Questions
Pashmina Tea House purchased debt securities during 2021 and classified them as securities available-for-sale: Security Cost...
Pashmina Tea House purchased debt securities during 2021 and
classified them as securities available-for-sale:
Security
Cost
Fair Value, 12/31/2021
A
$
40,000
$
49,000
B
70,000
66,000
C
28,000
39,000
All declines are considered to be temporary. How much gain will
be reported by Pashmina Tea House in the December 31, 2021, income
statement relative to the portfolio?
A)
$0.
B) $16,000
C) $20,000
Sheffield Corporation has the following securities in its portfolio of investments that are held for trading...
Sheffield Corporation has the following securities in its
portfolio of investments that are held for trading on December 31,
2021, Sheffield's year end (all investments are included in one
account Investments at FVTPL):
Investments
Carrying Amount
(before adjustment)
Fair Value
1,500 shares of David Jones Inc., common
$ 73,500
$
65,980
5,000 shares of Heam Corp., common
180,000
174,380
400 shares of Alessandro Inc., preferred
60,000
61,510
$313,500
$301,870
During 2022, Sheffield completed the following
transactions:
Mar. 1
Sold the...
You hold a portfolio with the following securities: Security: Stock A Percent of portfolio: 33% Beta:...
You hold a portfolio with the following securities:
Security: Stock A
Percent of portfolio: 33%
Beta: 1.83
Security: Stock B
Percent of portfolio: 18%
Beta: 1.55
Security: Stock C
Percent of portfolio: Please calculate it
Beta: 2.23
Calculate the beta portfolio.
Round the answers to two decimal places.
A) 1.88
B) 1.98
C) 1.78
D) 1.68
Fair Value Journal Entries, Trading Investments Gruden Bancorp Inc. purchased a portfolio of trading securities during...
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.
1,600
$40,000
$44,800
Luck Company
1,250
37,500
33,750
Wilson Company
1,000
40,000
37,000
Total
$117,500
$115,550
On May 10, Year 2, Gruden Bancorp Inc. purchased 1,200 shares of
Carroll Inc. at $29 per share plus...
Accounting for Short-term Investments (Debt Securities). The Alridge Corp. invests excess cash in debt securities until...
Accounting for Short-term Investments (Debt
Securities).
The Alridge Corp. invests excess cash in debt securities until
such funds are needed to support operations. At the beginning of
the year, the company’s portfolio consisted of the following debt
securities:
Company
Cost-Basis
B-M Squibb (BMS)
$ 95,000
J & J (JNJ)
65,000
Pacific, Inc. (PFE)
120,000
Total
$ 280,000
At year-end, the fair values of the three securities were as
follows: BMS, $93,000; JNJ, $73,000; and PFE,
$110,000.
Required:
(a) Calculate the...
At December 31, 2015, the trading securities for Storrer, Inc. are as follows. Security Cost Fair...
At December 31, 2015, the trading securities for Storrer, Inc.
are as follows.
Security
Cost
Fair Value
A $17,400 $16,200
B 12,300 13,800
C 23,500 19,200
$53,200 $49,200
Prepare the adjusting entry at December 31, 2015, 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
enter 0 for the amounts.)
Date
Account Titles and Explanation...
Fair Value Journal Entries, Trading Investments Gruden Bancorp Inc. purchased a portfolio of trading securities during...
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. 1,150 $15,410 $14,490 Luck Company 750 24,600 22,880
Wilson Company 350 10,500 10,710 Total $50,510 $48,080 On May 10,
Year 2, Gruden Bancorp Inc. purchased 500 shares of Carroll Inc.,
at $30 per share plus...
Andy holds a portfolio with the following securities: Security: Stock A Investment: 708,504 Return: 13.2% Security:...
Andy holds a portfolio with the following securities:
Security: Stock A
Investment: 708,504
Return: 13.2%
Security: Stock B
Investment: 249,634
Return: 9.0%
Security: Stock C
Investment: 279,122
Return: 8.1%
Calculate the expected return of portfolio.
HINT: Round the answers to ONE decimal places in percentage
form.
A) 10.2%
B) 11.2%
C) 10.1%
D) 12.2%
The following is a December 31, 2021, post-closing trial balance for Culver City Lighting, Inc. Account...
The following is a December 31, 2021, post-closing trial balance
for Culver City Lighting, Inc.
Account Title
Debits
Credits
Cash
$
75,000
Accounts receivable
59,000
Inventory
65,000
Prepaid insurance
35,000
Equipment
160,000
Accumulated depreciation
$
54,000
Patent (net)
60,000
Accounts payable
22,000
Interest payable
12,000
Notes payable (due in 10 years)
210,000
Common stock
90,000
Retained earnings
66,000
Totals
$
454,000
$
454,000
Prepare a classified balance sheet for Culver City Lighting, Inc.
(Amounts to be deducted should be indicated...
Martinez Company has the following securities in its portfolio on December 31, 2020. None of these...
Martinez 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
$72,600
$68,600
5,000 shares of Wallace Corp., Common
174,800
169,400
400 shares of Martin, Inc., Preferred
55,600
57,300
$303,000
$295,300
All of the securities were purchased in 2020.
In 2021, Martinez completed the following securities
transactions.
March 1
Sold the 1,500 shares of Gordon, Inc., Common,...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 8 minutes ago
asked 13 minutes ago
asked 16 minutes ago
asked 16 minutes ago
asked 19 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 2 hours ago
asked 2 hours ago
asked 2 hours ago