At December 31, 2018, Hull-Meyers Corp. had the following
investments that were purchased during 2018, its...
At December 31, 2018, Hull-Meyers Corp. had the following
investments that were purchased during 2018, its first year of
operations:
Cost
Fair Value
Trading Securities:
Security A
$
905,000
$
915,500
Security B
110,000
104,900
Totals
$
1,015,000
$
1,020,400
Securities
Available-for-Sale:
Security C
$
705,000
$
784,500
Security D
905,000
920,200
Totals
$
1,610,000
$
1,704,700
Securities to Be
Held-to-Maturity:
Security E
$
495,000
$
505,200
Security F
620,000
614,900
Totals
$
1,115,000
$
1,120,100
No investments were sold...
Prk Company has the
following securities in its portfolio of trading equity investments
on December 31,...
Prk Company has the
following securities in its portfolio of trading equity investments
on December 31, 2018:
Cost
Fair Value
6,000 ordinary shares of Kel Corp.
$186,000
$166,800
12,000 ordinary shares of Ret
218,400
228,000
$404,400
$394,800
All of the
investments had been purchased in 2018. In 2019, Prk completed the
following investments transactions:
May
31 Sold 6,000 ordinary shares of Kel
Corp., @ $32 with commissions, taxes, and fees of $2,000.
July 20
Bought 720 ordinary...
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:
March 1 Sold 5,000 shares of Thomas Corp., Common @ $32 less
fees of $1,500.
April 1 Bought 600 shares of Werth Stores, Common @ $45 plus...
Torrez Company has the following securities in its portfolio of
equity securities on December 31, 2018:...
Torrez Company has the following securities in its portfolio of
equity securities on December 31, 2018: Cost Fair Value 5,000
shares of Thompson Corp., Common $151,000 $155,000 10,000 shares of
Gaye, Common 184,000 190,000 $335,000 $345,000 All of the
securities had been purchased in 2018. In 2019, Torrez completed
the following securities transactions: March 1 Sold 5,000 shares of
Thompson Corp., Common @ $32 less fees of $1,500. April 1 Bought
600 shares of Welch Stores, Common @ $45 plus...
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 $149,000 $138,000 10,000 shares of
Gant, Common 180,000 187,000 $329,000 $325,000 All of the
securities had been purchased in 2018. In 2019, Korman completed
the following securities transactions: March 1 Sold 5,000 shares of
Thomas Corp., Common @ $30.80 less fees of $1,500. April 1 Bought
580 shares of Werth Stores, Common @ $43 plus...
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,...
Swifty Company has the following securities in its investment
portfolio on December 31, 2017 (all securities...
Swifty Company has the following securities in its investment
portfolio on December 31, 2017 (all securities were purchased in
2017): (1) 2,900 shares of Anderson Co. common stock which cost
$52,200, (2) 10,600 shares of Munter Ltd. common stock which cost
$614,800, and (3) 6,400 shares of King Company preferred stock
which cost $262,400. The Fair Value Adjustment account shows a
credit of $9,900 at the end of 2017.
In 2018, Swifty completed the following securities
transactions.
1.
On January...
Whispering Company has the following securities in its
investment portfolio on December 31, 2017 (all securities...
Whispering Company has the following securities in its
investment portfolio on December 31, 2017 (all securities were
purchased in 2017): (1) 3,000 shares of Anderson Co. common stock
which cost $54,000, (2) 10,700 shares of Munter Ltd. common stock
which cost $620,600, and (3) 6,400 shares of King Company preferred
stock which cost $268,800. The Fair Value Adjustment account shows
a credit of $10,200 at the end of 2017. In 2018, Whispering
completed the following securities transactions.
1. On January...
On December 31, 2018, HCTLA, Co. reported its investment in
available-for-sale securities at $2,394,000, it's fair...
On December 31, 2018, HCTLA, Co. reported its investment in
available-for-sale securities at $2,394,000, it's fair value on
that day. The portfolio originally cost $2,176,000. On December 31,
2019, the fair value of the securities was $2,155,000 What will
HCTLA, Co. report on its 2019 income statement as a result of the
change in fair value during the year? (NIE 2)
($239,000)
($21,000)
$218,000
Nothing. This adjustment would be reported as Other
Comprehensive Income.
5 points
QUESTION 17
(5...
1)
Richardson Corp.'s trading securities portfolio is as
follows:
◊―――――――――――――――――――――――――――◊
Date: Dec 31, 2015 | Dec...
1)
Richardson Corp.'s trading securities portfolio is as
follows:
◊―――――――――――――――――――――――――――◊
Date: Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013
Stuart Inc. Fair value : $ 310,000 | 301,000 | 0
Stuart Inc. Cost : $ 190,000 | 190,000 | 0
Rufus Inc. Fair value : $ 295,000 | 0 | 0
Rufus Inc. Cost : $ 255,000 | 0 | 0
◊―――――――――――――――――――――――――――◊
No dividends were received from any investments. Ignoring income
taxes, what amount should be reported...