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Compute the unrealized gains or losses

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Question - On December 31, 2019, Sauder Company owned the following long-term investments

 

Number of Shares

Total Cost

Adel Co.

4,000

$100,000

Beran Co.

5,000

30,000

Caren Co.

3,000

60,000

In 2020, the following transactions occurred.

1. July 1 Received $1 per share cash dividends on Beran Co. ordinary shares.

2. Aug. 1 Sold 600 shares of Adel Co. for cash at $30 per share.

3. Sept 1 Sold all the 3,000 shares of Caren Co. for cash $18 per share.

4. Oct. 1 Received $0.5 per share cash dividends on Adel Co.

5. Nov. 1 Purchased 500 shares of Moon Co. ordinary shares for $10 per share.

At December 31, the fair market values per share of the ordinary shares were: Adel Co. $27, Beran $5, and Moon Co. $13.

Required -

a. Journalize the 2020 transactions.

b. Compute the unrealized gains or losses.

Reference no: EM133005855

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