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How much of the proceeds would be allocated to common stock

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Problem 1: On its December 31, 2013, balance sheet, Quinn Co. reported its investment in available for- sale securities, which had cost $600,000, at fair value of $550,000. At December 31, 2014, the fair value of the securities was $585,000. What should Quinn report on its 2014 income statement as a result of the increase in fair value of the investments in 2014?

a. Unrealized loss of $15,000.
b. $0
c. Realized gain of $35,000
d. Unrealized gain of $35,000

Problem 2: Bleeker Company issued 10,000 shares of its $5 par value common stock having a market value of $25 per share and 15,000 shares of its $15 par value preferred stock having a market value of $20 per share for a lump sum of $480,000. How much of the proceeds would be allocated to the common stock?

a. $218,182
b. $255,000
c. $50,000
d. $250,000

Reference no: EM132836572

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