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Apr. Oct. Dec. 1 Purchased securities of Fuller Inc. as a trading investment for $125,000. 14 Sold securities of Fuller Inc. that cost $25,000 for $30,000. 31 The fair values of the Holland Inc. and Fuller Inc. securities are as follows: Issuing Company Cost Fair Value Holland Inc. Fuller Inc. $126,000 $132,500 100,000 115,600

Apr. Oct. Dec. 1 Purchased securities of Fuller Inc. as a trading investment for $125,000. 14 Sold securities of Fuller Inc. that cost $25,000 for $30,000. 31 The fair values of the Holland Inc. and Fuller Inc. securities are as follows: Issuing Company Cost Fair Value Holland Inc. Fuller Inc. $126,000 $132,500 100,000 115,600

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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+ Rios Co. is a regional insurance company that began operations on January 1, 20Y2. The following selected transactions relate to investments acquired by Rios Co., which has a fiscal year ending on December 31: F3 D Record these transactions on page 10: C 20Y2 Feb. May X $ 4 July Nov. Dec. F4 20Y3 Record these transactions on page 11: R 1 Purchased 7,500 shares of Caldwell Inc. common stock at $50 per share plus a brokerage commission of $75. Caldwell has 100,000 shares of common stock outstanding. Purchased securities of Holland Inc. as a trading investment for $126,000. Sold 4,500 shares of Caldwell Inc. for $46 per share less a $110 brokerage commission. Received an annual dividend of $0.50 per share on 3,000 shares of Caldwell Inc. stock. Sold the remaining shares of Caldwell Inc. for $51 per share less a $90 brokerage commission. The trading securities of Holland Inc. have a fair value on December 31 of $120,000. LL 1 1 31 15 31 Q Search C V F5 % 65⁰ F6 6 T Y G H F7 LDFINC & 7 N U F8 * CO c 8 P D M F9 09 ( 9 K F10 O V 0 L } F11 P + F12 ; < PrtSc [ + 11 Pax Insert 1 C Bas
Transcribed Image Text:+ Rios Co. is a regional insurance company that began operations on January 1, 20Y2. The following selected transactions relate to investments acquired by Rios Co., which has a fiscal year ending on December 31: F3 D Record these transactions on page 10: C 20Y2 Feb. May X $ 4 July Nov. Dec. F4 20Y3 Record these transactions on page 11: R 1 Purchased 7,500 shares of Caldwell Inc. common stock at $50 per share plus a brokerage commission of $75. Caldwell has 100,000 shares of common stock outstanding. Purchased securities of Holland Inc. as a trading investment for $126,000. Sold 4,500 shares of Caldwell Inc. for $46 per share less a $110 brokerage commission. Received an annual dividend of $0.50 per share on 3,000 shares of Caldwell Inc. stock. Sold the remaining shares of Caldwell Inc. for $51 per share less a $90 brokerage commission. The trading securities of Holland Inc. have a fair value on December 31 of $120,000. LL 1 1 31 15 31 Q Search C V F5 % 65⁰ F6 6 T Y G H F7 LDFINC & 7 N U F8 * CO c 8 P D M F9 09 ( 9 K F10 O V 0 L } F11 P + F12 ; < PrtSc [ + 11 Pax Insert 1 C Bas
+ Rios Co. is a regional insurance company that began operations on January 1, 20Y2. The following selected transactions relate to investments acquired by Rios Co., which has a fiscal year ending on December 31: F3 D Record these transactions on page 10: C 20Y2 Feb. May X $ 4 July Nov. Dec. F4 20Y3 Record these transactions on page 11: R 1 Purchased 7,500 shares of Caldwell Inc. common stock at $50 per share plus a brokerage commission of $75. Caldwell has 100,000 shares of common stock outstanding. Purchased securities of Holland Inc. as a trading investment for $126,000. Sold 4,500 shares of Caldwell Inc. for $46 per share less a $110 brokerage commission. Received an annual dividend of $0.50 per share on 3,000 shares of Caldwell Inc. stock. Sold the remaining shares of Caldwell Inc. for $51 per share less a $90 brokerage commission. The trading securities of Holland Inc. have a fair value on December 31 of $120,000. LL 1 1 31 15 31 Q Search C V F5 % 65⁰ F6 6 T Y G H F7 LDFINC & 7 N U F8 * CO c 8 P D M F9 09 ( 9 K F10 O V 0 L } F11 P + F12 ; < PrtSc [ + 11 Pax Insert 1 C Bas
Transcribed Image Text:+ Rios Co. is a regional insurance company that began operations on January 1, 20Y2. The following selected transactions relate to investments acquired by Rios Co., which has a fiscal year ending on December 31: F3 D Record these transactions on page 10: C 20Y2 Feb. May X $ 4 July Nov. Dec. F4 20Y3 Record these transactions on page 11: R 1 Purchased 7,500 shares of Caldwell Inc. common stock at $50 per share plus a brokerage commission of $75. Caldwell has 100,000 shares of common stock outstanding. Purchased securities of Holland Inc. as a trading investment for $126,000. Sold 4,500 shares of Caldwell Inc. for $46 per share less a $110 brokerage commission. Received an annual dividend of $0.50 per share on 3,000 shares of Caldwell Inc. stock. Sold the remaining shares of Caldwell Inc. for $51 per share less a $90 brokerage commission. The trading securities of Holland Inc. have a fair value on December 31 of $120,000. LL 1 1 31 15 31 Q Search C V F5 % 65⁰ F6 6 T Y G H F7 LDFINC & 7 N U F8 * CO c 8 P D M F9 09 ( 9 K F10 O V 0 L } F11 P + F12 ; < PrtSc [ + 11 Pax Insert 1 C Bas
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