Oriole Company has the following portfolio of trading investments at December 31, 2022. Per Share Investment Quantity Percent Interest Cost Market Frank, Inc. 2,100 shares 8% $11 $16 Ellis Corp. 5,400 shares 14% 23 19 Mendota Company 4,200 shares 2% 31 24 On December 31, 2023, Oriole's portfolio of trading investments consisted of the following investments. Per Share Investment Ellis Corp. Quantity Percent Interest Cost Market 5,400 shares 14% $23 $28 Mendota Company 4,200 shares 2% 31 23 Mendota Company 2,100 shares 1% 25 23 At the end of year 2023, Oriole Company changed the classification of its investment in Frank, Inc. to non-trading when the shares were selling for $8 per share.
Oriole Company has the following portfolio of trading investments at December 31, 2022. Per Share Investment Quantity Percent Interest Cost Market Frank, Inc. 2,100 shares 8% $11 $16 Ellis Corp. 5,400 shares 14% 23 19 Mendota Company 4,200 shares 2% 31 24 On December 31, 2023, Oriole's portfolio of trading investments consisted of the following investments. Per Share Investment Ellis Corp. Quantity Percent Interest Cost Market 5,400 shares 14% $23 $28 Mendota Company 4,200 shares 2% 31 23 Mendota Company 2,100 shares 1% 25 23 At the end of year 2023, Oriole Company changed the classification of its investment in Frank, Inc. to non-trading when the shares were selling for $8 per share.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...
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![Oriole Company has the following portfolio of trading investments at December 31, 2022.
Per Share
Investment
Quantity
Percent Interest
Cost
Market
Frank, Inc.
2,100 shares
8%
$11
$16
Ellis Corp.
5,400 shares
14%
23
19
Mendota Company
4,200 shares
2%
31
24
On December 31, 2023, Oriole's portfolio of trading investments consisted of the following investments.
Per Share
Investment
Ellis Corp.
Quantity
Percent Interest
Cost
Market
5,400 shares
14%
$23
$28
Mendota Company
4,200 shares
2%
31
23
Mendota Company
2,100 shares
1%
25
23
At the end of year 2023, Oriole Company changed the classification of its investment in Frank, Inc. to non-trading when
the shares were selling for $8 per share.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F238305e1-0deb-408a-a047-c1080b4ce2d2%2F668feee9-9c86-4a4d-8af5-f54a41431d1f%2Fkbdj06i_processed.png&w=3840&q=75)
Transcribed Image Text:Oriole Company has the following portfolio of trading investments at December 31, 2022.
Per Share
Investment
Quantity
Percent Interest
Cost
Market
Frank, Inc.
2,100 shares
8%
$11
$16
Ellis Corp.
5,400 shares
14%
23
19
Mendota Company
4,200 shares
2%
31
24
On December 31, 2023, Oriole's portfolio of trading investments consisted of the following investments.
Per Share
Investment
Ellis Corp.
Quantity
Percent Interest
Cost
Market
5,400 shares
14%
$23
$28
Mendota Company
4,200 shares
2%
31
23
Mendota Company
2,100 shares
1%
25
23
At the end of year 2023, Oriole Company changed the classification of its investment in Frank, Inc. to non-trading when
the shares were selling for $8 per share.
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