Question
ABC Corporation is trading securities portfolio consisted of the following common stocks. &
- ABC Corporation is trading securities portfolio consisted of the following common stocks.
Cost Fair Value
Bud Corporation $ 46,500 $ 50,000
Heinken Inc. 60,000 58,000
Corona Corporation 80,000 76,400
Instructions: Record any necessary journal entries assuming the fair value account had a credit balance of $5,000 prior to this entry.
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Gilder Company has the following securities in its portfolio of trading equity securities on 12/31/17: &
Gilder Company has the following securities in its portfolio of
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Cost Fair
Value
5,000
shares of Diamond
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10,000
shares of Culver
Co. 180,000 185,000
2,000
shares of Barbee
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$378,000 $364,100
All of the securities had been
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3/1 Sold
5,000 shares of Diamond Corp. @ $26 less fees of $1,500.
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600 shares of Vogle Stores @ $42 plus fees of $550.
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Brooks Co. purchases various investments in trading securities at a cost of $50,000 on December 27,...
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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
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December 31, Year 1, was as follows:
Name
Number of Shares
Total Cost
Total Fair Value
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1,600
$40,000
$44,800
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1,250
37,500
33,750
Wilson Company
1,000
40,000
37,000
Total
$117,500
$115,550
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Valuing Trading Securities at Fair Value
On January 1, Valuation Allowance for Trading Investments had a
zero balance. On December 31, the cost of the trading securities
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Prepare the December 31 adjusting journal entry to record the
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Dec. 31
fill in the blank 2
fill in the blank 4
PROBLEM II: Trading Securities MBS Corporation acquired as long-term investment $500 million of 8% bond on...
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Korman Company has the following securities in its portfolio of equity securities on December 31, 2018:...
Korman Company has the following securities in its portfolio of
equity securities on December 31, 2018:
Cost Fair Value
5,000 shares of Thomas Corp., Common $151,000 $139,000
10,000 shares of Gant, Common 184,000 190,000
$335,000 $329,000
All of the securities had been purchased in 2018. In 2019,
Korman completed the following securities transactions:
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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
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under the equity method.
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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
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57,300
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All of the securities were purchased in 2020.
In 2021, Martinez completed the following securities
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Sold the 1,500 shares of Gordon, Inc., Common,...
During January 2017, Long Corporation for the first time decided to acquire some equity securities as...
During January 2017, Long Corporation for the first time decided
to acquire some equity securities as a means of putting some of its
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1
$52,000
$50,000
2
32,000
29,000
3
35,000
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Security
Cost
Fair value 12/31/2021
A
$
80,000
$
84,000
B
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Amount
Classification
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162,000
Noncurrent Asset
b.
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$
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Noncurrent Asset
d.
$
160,000
Current Asset
Multiple Choice
Option a.
Option c....
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