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Problem 15-3A Debt investments in available-for-sale securities; unrealized and realized gains and losses LO P3 [The...

Problem 15-3A Debt investments in available-for-sale securities; unrealized and realized gains and losses LO P3

[The following information applies to the questions displayed below.]

Stoll Co.'s long-term available-for-sale portfolio at the start of this year consists of the following.

Available-for-Sale Securities Cost Fair Value
Company A bonds $ 533,600 $ 490,000
Company B notes 159,230 152,000
Company C bonds 662,000 640,190


Stoll enters into the following transactions involving its available-for-sale debt securities this year.

Jan. 29 Sold one-half of the Company B notes for $78,640.
July 6 Purchased bonds of Company X for $126,900.
Nov. 13 Purchased notes of Company Z for $267,900.
Dec. 9 Sold all of the bonds of Company A for $521,600.


The fair values at December 31 are B, $83,900; C, $605,200; X, $107,000; and Z, $275,000.

3. What amount of gains or losses on transactions relating to long-term investments in available-for-sale debt securities does Stoll report on its income statement for this year?

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