User Account

All Pages

Following long term investment transactions during year

Assignment Help Accounting Basics
Reference no: EM13895232

Stoll Co.' s long  term available for sale portfolio at December 31, 2012, consists of the following.

285_267-B-A-I (3809).png

Stoll enters into the following long term investment transactions during year 2013. 
Jan. 29 Sold 3,500 shares of Company B common stock for $ 79,188 less a brokerage fee of $ 1,500. 
Apr. 17 Purchased 10,000 shares of Company W common stock for $ 197,500 plus a brokerage fee of $ 2,400. The shares represent a 30% ownership in Company W. 
July 6 Purchased 4,500 shares of Company X common stock for $ 126,562 plus a brokerage fee of $ 1,750. The shares represent a 10% ownership in Company X. 
Aug. 22 Purchased 50,000 shares of Company Y common stock for $ 375,000 plus a brokerage fee of $ 1,200. The shares represent a 51% ownership in Company Y. 
Nov. 13 Purchased 8,500 shares of Company Z common stock for $ 267,900 plus a brokerage fee of $ 2,450. 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 $ 4,100. 
The fair values of its investments at December 31, 2013, are: B, $ 81,375; C, $ 610,312; W, $ 191,250; X, $ 118,125; Y, $ 531,250; and Z, $ 278,800. 

Required: 

1. Determine the amount Stoll should report on its December 31, 2013, balance sheet for its long  term investments in available  for  sale securities. 
2. Prepare any necessary December 31, 2013, adjusting entry to record the fair value adjustment for the long  term investments in available for sale securities. 
3. What amount of gains or losses on transactions relating to long  term investments in available for sale securities should Stoll report on its December 31, 2013, incomestatement?

Reference no: EM13895232

Questions Cloud

Risk factors faced by corporate bond investors include all : Risk factors faced by corporate bond investors include all of the following EXCEPT
What do authors describe as a naturalistic setting in an hmo : What do the authors describe as a naturalistic setting in an HMO? Do you agree with this description? What is your perspective on the outcome of the study described? Do you agree or disagree with the reported results
What is meant by the greek virtue or arete : What is meant by the Greek virtue or arete?  and What was the Covenant that the Hebrews made with their God?  How did the geography of Greece influence its political development?
What qualities would you look for in these officers : Your job is to select correctional officers for an Internal Affairs Unit. They will investigate problems of contraband and violence in prison while working as regular officers. What qualities would you look for in these officers?
Following long term investment transactions during year : Stoll enters into the following long term investment transactions during year 2013.
Utility can be measured by the risk-return trade-off reflect : Utility can be measured by the risk-return trade-off reflected in the Capital Asset Pricing Model
What are the cost implications of each delivery option : What are the cost implications of each delivery option? What are the qualitative and service characteristics of each delivery option? Based on your analysis, what would you recommend to Bob?
Paper - women issues and multiculturalism in diverve society : Can someone write a final paper on the topic "Women's Issues and Multiculturalism in a Diverve Society?" Discuss the relevance of the selected topic to an understanding of multiculturalism or the application of the topic in multicultural counseling
Identify one independent variable from the web article : Identify one independent variable from the web article and How is the independent variable you've identified measured (the variable's indicator)?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Scenario 1 if you were general manager of a division on

bull scenario 1 if you were general manager of a division on which three key ratios would you choose to have your units

  The tippa canoe company makes fiberglass canoes the

the tippa canoe company makes fiberglass canoes. the fiberglass resin is initially molded to the shape of a canoe then

  Kristin company sells computers with a 6-month warranty it

kristin company sells computers with a 6-month warranty. it is estimated that 2 of all units sold will need repairs

  Make the journal entry from garcia equipments standpoint if

as the struggling owner of a new restaurant you suffer from a habitual shortage of cash. yesterday the following

  Relationship between strategic-financial planning

Write a 1,050-to-1,400 word paper in which you describe the relationship between strategic and financial planning. Include the following: A strategic planning initiative for the organization identified in the Week 2 assignment-Identify an initiat..

  Declared semiannual dividends of 120 on preferred stock and

jan. 10 - split the common stock 4 for 1 and reduced the par from 100 to 25 per share. after the split there were

  Why should the variable costing method be more useful for

why should the variable costing method be more useful for managers in making decisions? are there any circumstances

  What amount of net income would the phone company report

What amount of Sales, Bad Debt Expense, and Net Income would the phone company report from these events in 2015 and 2016 if it used the allowance method of accounting for uncollectible accounts? Assume the company estimates 5 percent of credit sales ..

  Unfortunately sometimes small business owners do not fully

unfortunately sometimes small business owners do not fully understand the importance of maintaining good records and

  Explain why it is important to analyze eah financial

explain why it is important to analyze eah financial transaction of a business and to report it in the accounting

  You are the systems analyst for the wee willie williams

you are the systems analyst for the wee willie williams widget works company. you have decided to review the order

  Investing the money in preferred stock

Sarah is single and earns $60,000 in salary. She wants to invest $2,500 per year in an IRA but is not sure which type she qualifies for and whether this would be a better investment than investing the money in preferred stock paying a 6 percent a..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd