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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