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Leya [2.2K]
2 years ago
7

On December 31, 2017, Turnball Associates owned the following securities, held as a long-term investment.

Business
1 answer:
Ivan2 years ago
7 0

Common Stock Shares Cost

Gehring Co. 1,800 $50,400

Wooderson Co. 4,800 33,600

Kitselton Co. 1,400 25,200

On December 31, 2017, the total fair value of the securities was equal to its cost. In 2018, the following transactions occurred.

Aug. 1 Received $0.50 per share cash dividend on Gehring Co. common stock.

Sept. 1 Sold 1,440 shares of Wooderson Co. common stock for cash at $6 per share.

Oct. 1 Sold 720 shares of Gehring Co. common stock for cash at $31 per share.

Nov. 1 Received $1 per share cash dividend on Kitselton Co. common stock.

Dec. 15 Received $0.50 per share cash dividend on Gehring Co. common stock.

Dec. 31 Received $1 per share annual cash dividend on Wooderson Co. common stock.

At December 31, the fair values per share of the common stocks were: Gehring Co. $30, Wooderson Co. $6, and Kitselton Co. $16.

a-Journalize the 2018 transactions and post to the account Stock Investments. (Use the T-account form.)

b-Prepare the adjusting entry at December 31, 2018, to show the securities at fair value. The stock should be classified as available-for-sale securities. c-Show the balance sheet presentation of the investments at December 31, 2018. At this date, Turnball Associates has common stock $1,400,000 and retained earnings $1,000,000.

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3 years ago
Bond valuationlong dashSemiannual interest Find the value of a bond maturing in 4 ​years, with a ​$1 comma 000 par value and a c
algol [13]

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824.28

Explanation:

Market price of a bond is the total sum of discounted coupon cashflow and par value at maturity. This is a 4-year bond with semi-annual payment so there will be 8 coupon payment in total. Let formulate the bond price as below:

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2 years ago
Which option identifies the type of budget development represented in the following scenario?
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Answer:top approach

Explanation:

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Pam sees that the price of bananas has risen in the grocery store. All else equal, she decides to buy more tangerines than she n
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Option (c) is correct.

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Answer:

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