P17-10 (LO2) EXCEL (Equity Investments) Castleman Holdings, Inc. had the following equity investment portfolio at January 1, 2017. Evers Company Rogers Company Chance Company 1,000 shares @ $15 each $15,000 18,000 900 shares @ $20 each 500 shares @ $9 each 4,500 Equity investments @ cost Fair value adjustment 37,500 (7,500) Equity investments @ fair value $30,000 During 2017, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Castleman Holdings, Inc. sold 300 shares of Chance Company for $11 per share. 3. On May 15, Castleman Holdings, Inc. purchased 100 more shares of Evers Company stock at $16 per share. 4. At December 31, 2017, the stocks had the following price per share values: Evers $17, Rogers $19, and Chance S8. During 2018, the following transactions took place. 5. On February 1, Castleman Holdings, 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, 2018, the stocks had the following price per share values: Evers $19 and Rogers $21.
P17-10 (LO2) EXCEL (Equity Investments) Castleman Holdings, Inc. had the following equity investment portfolio at January 1, 2017. Evers Company Rogers Company Chance Company 1,000 shares @ $15 each $15,000 18,000 900 shares @ $20 each 500 shares @ $9 each 4,500 Equity investments @ cost Fair value adjustment 37,500 (7,500) Equity investments @ fair value $30,000 During 2017, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Castleman Holdings, Inc. sold 300 shares of Chance Company for $11 per share. 3. On May 15, Castleman Holdings, Inc. purchased 100 more shares of Evers Company stock at $16 per share. 4. At December 31, 2017, the stocks had the following price per share values: Evers $17, Rogers $19, and Chance S8. During 2018, the following transactions took place. 5. On February 1, Castleman Holdings, 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, 2018, the stocks had the following price per share values: Evers $19 and Rogers $21.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:P17-10 (LO2) EXCEL (Equity Investments) Castleman Holdings, Inc. had the following equity investment portfolio at
January 1, 2017.
Evers Company
Rogers Company
Chance Company
1,000 shares @ $15 each
$15,000
18,000
900 shares @ $20 each
500 shares @ $9 each
4,500
Equity investments @ cost
Fair value adjustment
37,500
(7,500)
Equity investments @ fair value
$30,000
During 2017, the following transactions took place.
1. On March 1, Rogers Company paid a $2 per share dividend.
2. On April 30, Castleman Holdings, Inc. sold 300 shares of Chance Company for $11 per share.
3. On May 15, Castleman Holdings, Inc. purchased 100 more shares of Evers Company stock at $16 per share.
4. At December 31, 2017, the stocks had the following price per share values: Evers $17, Rogers $19, and Chance S8.
During 2018, the following transactions took place.
5. On February 1, Castleman Holdings, 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, 2018, the stocks had the following price per share values: Evers $19 and Rogers $21.
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