Apr 17 purchased 9800 shares of company w common stock for

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Reference no: EM13605904

Elevant enters into the following long-term investment transactions during year 2009.

Jan. 29 Sold 3,500 shares of Company B common stock for $79,700 less a brokerage fee of $1,200.
Apr. 17 Purchased 9,800 shares of Company W common stock for $197,500 plus a brokerage fee of $2,100. The shares represent a 30% ownership in Company W.

July 6 Purchased 4,100 shares of Company X common stock for $115,312 plus a brokerage fee of $1,450. The shares represent a 10% ownership in Company X.

Aug. 22 Purchased 50,300 shares of Company Y common stock for $375,000 plus a brokerage fee of $900. The shares represent a 51% ownership in Company Y.

Nov. 13 Purchased 8,300 shares of Company Z common stock for $261,596 plus a brokerage fee of $2,150. The shares represent a 5% ownership in Company Z.

Dec. 9 Sold 40,000 shares of Company A common stock for $515,000 less a brokerage fee of $3,800.

The market values of its investments at December 31, 2009, are:

Market
Value
B $ 81,375
C $ 610,312
W $ 191,250
X $ 107,625
Y $ 531,250
Z $ 272,240

rev: 02-28-2011

9.value:
1 points Requirement 1:

Determine the amount Elevant should report on its December 31, 2009, balance sheet for its long-term investments in available-for-sale securities.(Omit the "tiny_mce_markerquot; sign in your response.)Available-for-sale securities reported on December 31, 2009 $

Reference no: EM13605904

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