On March 1, 2019, Carol Company bought the common shares of two companies with a 20% ownership share in each as follows: Company Name Cost company Jane 30000 company Peter 50000 Total 80000 On December 1, Company C received a dividend of $ 18,000 from its investment in the common stock of Company B, and Company A did not distribute a dividend. As at December 31, 2019, the fair value of the available-for-sale equity securities portfolio was as follows: Company Name Cost company Jane 24000 company Peter 60000 Total 84000 On January 1, 2020, Carol Company bought 20,000 shares of Dalia Company at a price of $ 1 per share and paid $ 4,000 brokerage and VAT on the brokerage value of 5%. On June 10, 2020, Company Peter sold all of its investment to Company Jane for $ 40,000. As at December 31, 2020, the fair value of the available-for-sale equity securities portfolio was as follows: Company Name Cost company Peter 70000 company Dalia 20000 Total 90000 Required: 1- Recording the daily operations and the necessary settlement for the year 2019. 2- Photocopy of the company's portfolio of securities available for sale on December 31, 2019. 3- Recording the daily operations and the necessary settlement for the year 2020. 4- Photocopy of the company's portfolio of securities available for sale on December 31, 2020
On March 1, 2019, Carol Company bought the common shares of two companies with a 20% ownership share in each as follows:
|
Company Name |
Cost |
|
company Jane |
30000 |
|
company Peter |
50000 |
|
Total |
80000 |
On December 1, Company C received a dividend of $ 18,000 from its investment in the common stock of Company B, and Company A did not distribute a dividend.
As at December 31, 2019, the fair value of the available-for-sale equity securities portfolio was as follows:
|
Company Name |
Cost |
|
company Jane |
24000 |
|
company Peter |
60000 |
|
Total |
84000 |
On January 1, 2020, Carol Company bought 20,000 shares of Dalia Company at a price of $ 1 per share and paid $ 4,000 brokerage and VAT on the brokerage value of 5%.
On June 10, 2020, Company Peter sold all of its investment to Company Jane for $ 40,000.
As at December 31, 2020, the fair value of the available-for-sale equity securities portfolio was as follows:
|
Company Name |
Cost |
|
company Peter |
70000 |
|
company Dalia |
20000 |
|
Total |
90000 |
Required:
1- Recording the daily operations and the necessary settlement for the year 2019.
2- Photocopy of the company's portfolio of securities available for sale on December 31, 2019.
3- Recording the daily operations and the necessary settlement for the year 2020.
4- Photocopy of the company's portfolio of securities available for sale on December 31, 2020
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