Oriole, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company 970 shares @ $14 each $13,580 Rogers Company 910 shares @ $18 each 16,380 Chance Company 500 shares @ $9 each 4,500 Equity investments @ cost 34,460 Fair value adjustment (7,840 ) Equity investments @ fair value $26,620 During 2020, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Oriole, Inc. sold 290 shares of Chance Company for $11 per share. 3. On May 15, Oriole, Inc. purchased 90 more shares of Evers Company stock at $17 per share. 4. At December 31, 2020, the stocks had the following price per share values: Evers $18, Rogers $17, and Chance $8. During 2021, the following transactions took place. 5. On February 1, Oriole, Inc. sold the remaining Chance shares for $8 per share. 6. On March 1, Rogers Company paid a $2 per share dividend. 7. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month. 8. At December 31, 2021, the stocks had the following price per share values: Evers $20 and Rogers $19.
Oriole, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company 970 shares @ $14 each $13,580 Rogers Company 910 shares @ $18 each 16,380 Chance Company 500 shares @ $9 each 4,500 Equity investments @ cost 34,460 Fair value adjustment (7,840 ) Equity investments @ fair value $26,620 During 2020, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Oriole, Inc. sold 290 shares of Chance Company for $11 per share. 3. On May 15, Oriole, Inc. purchased 90 more shares of Evers Company stock at $17 per share. 4. At December 31, 2020, the stocks had the following price per share values: Evers $18, Rogers $17, and Chance $8. During 2021, the following transactions took place. 5. On February 1, Oriole, Inc. sold the remaining Chance shares for $8 per share. 6. On March 1, Rogers Company paid a $2 per share dividend. 7. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month. 8. At December 31, 2021, the stocks had the following price per share values: Evers $20 and Rogers $19.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Oriole, Inc. had the following equity investment portfolio at January 1, 2020.
| Evers Company | 970 shares @ $14 each | $13,580 | |||
| Rogers Company | 910 shares @ $18 each | 16,380 | |||
| Chance Company | 500 shares @ $9 each | 4,500 | |||
| Equity investments @ cost | 34,460 | ||||
| Fair value adjustment | (7,840 | ) | |||
| Equity investments @ fair value | $26,620 |
During 2020, the following transactions took place.
| 1. | On March 1, Rogers Company paid a $2 per share dividend. | |
| 2. | On April 30, Oriole, Inc. sold 290 shares of Chance Company for $11 per share. | |
| 3. | On May 15, Oriole, Inc. purchased 90 more shares of Evers Company stock at $17 per share. | |
| 4. | At December 31, 2020, the stocks had the following price per share values: Evers $18, Rogers $17, and Chance $8. |
During 2021, the following transactions took place.
| 5. | On February 1, Oriole, Inc. sold the remaining Chance shares for $8 per share. | |
| 6. | On March 1, Rogers Company paid a $2 per share dividend. | |
| 7. | On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month. | |
| 8. | At December 31, 2021, the stocks had the following price per share values: Evers $20 and Rogers $19. |
Transcribed Image Text:Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2020 and 2021.
Oriole, Inc.
Balance Sheet (Partial)
December 31, 2020
December 31, 2021
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%24
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