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3 years ago

On December 21, 2020, Sheridan Company provided you with the following information regarding its equity investments.

Business

1 answer:

xxMikexx [17]3 years ago

5 0

Answer and Explanation:

The Journal entries are prepared below:-

a. Unrealized Holding Gain or Loss - Income Dr, $1,460

To Fair value Adjustment $1,460

(Being unrealized holding income is recorded)

b. Cash Dr, $8,770

Loss on Sale of Investment Dr, $430

To trading Equity Investment $9,200

(Being sale of the Colorado Co. stock during 2021 is recorded)

c. Fair value Adjustment Dr, $880

To Unrealized Holding Gain or Loss - Income $880

(Being adjustment of fair value is recorded)

Working note:

Stock Cost Fair Value Unrealized Gain(Loss)

Clemson Corp.

Stock $18,700 $17,690 -$1,010

Buffaloes Co.

stock $18,700 $19,130 $ 430

Net unrealized gain (loss) -$580

2020 -$1,460

Fair value adjustment for 2021 -$880

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Answer:

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Explanation:

I'm guessing they want you to find the standard deviation.

It would be easy to do this in a statistical calculator, but I suspect they want you to do it by hand.

Here are the steps for a manual calculation.

1. Count the elements in the data set

N = 8

2 Calculate the sum of the data set

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We can set up a table to organize the calculations.

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Answer:

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