Problem C-4A (Algo) Part 2 2. Prepare a table to compare the year-end cost and fair values of Rose's short-term stock investments. Comparison of Cost and Fair Values for Stock Investments Portfolio at Year-End Gem Company PepsiCo Xerox Total Cost Fair Value $ 0 $ Unrealized Amount
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- GL1501 (Algo) - Based on Problem 15-4A LO P4 STO Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. July 7 April 16 Purchased 5,500 shares of Arnold Company stock at $27 per share. Purchased 4,000 shares of Haven Company stock at $52 per share. Purchased 1,800 shares of Kohler Company stock at $19 per share. Received an $1.30 per share cash dividend on the Arnold Company stock. Sold 3,300 shares of Arnold Company stock at $30 per share. July 20 August 15 August 28 October 1 December 15 Received a $1.60 per share cash dividend on the remaining Arnold Company shares. December 31 Received a $3.30 per share cash dividend on the Haven Company shares. Received a $3.90 per share cash dividend on the Haven Company shares. Requirement General Journal General Ledger Trial Balance X Answer is not complete. Fair Value Adjustment April 16) Purchased 5,500 shares of Arnold…Help Save & Exit Submit Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 220 shares of its common stock on May 1 for $11,000. On July 1, it reissued 110 of these shares at $52 per share. On August 1, it reissued the remaining treasury shares at $49 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2? Multiple Choice $11,110. $5,720. $13,420. 2:15 PM 3/28/20223 eBook Sunshine Clothing Company issues 1,000 shares of $1 par value common stock at $33 per share. Later in the year, the company decides to repurchase 100 shares at a cost of $36 per share. Determine the financial statement effects of the repurchase of treasury stock. Note: Amounts to be deducted should be indicated by a minus sign. If there are no effects for a particular transaction/event, select "There are no financial statement effects" in the first account field. Print References Assets Liabilities Balance Sheet Stockholders' Equity Contributed Capital Retained Earnings Treasury Stock Income Statement Revenues Expenses Net Income
- 0 Required information [The following information applies to the questions displayed below.] a. On March 22, purchased 700 shares of RPI Company stock at $22 per share. Duke's stock investment results in it having an insignificant influence over RPI. b. On July 1, received a $2 per share cash dividend on the RPI stock purchased in part a. c. On October 8, sold 350 shares of RPI stock for $32 per share. Analyze each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including+ or -) for each transaction. k Assets Liabilities + a. 8 CO M I K ( 9 ; I option { [ ? I Equity + 11 "1 C } ] Save & Ext Check deleteAll securities purchases made by Mechanical Engineers, Inc. described in this problem represent less than a 20% interest in the investee companies. Part I: Mechanical Engineers, Inc. made the following purchases of equity securities during 20X7, the first year any investments were made: Investee Company Cost per per share during 20X7* Number of shares purchased Total Cost Market value per share on Dec. 31, 20X7 Total Market Value on Dec. 31, 20X7 W Co.** $11.00 500 $5,500 $14.00 $7,000 X Co.*** $18.00 1,000 $18,000 $17.00 $17,000 $23,500 $24,000 * Costs per share include broker’s fees and commissions.** Received $50 dividend during 20X7 from W Co.*** Received $200 dividend during 20X7 from X Co. Mechanical Engineers, Inc. intends to sell the W Co. and X Co. investments in the short term in an open market. Mechanical Engineers, Inc. adjusts its allowance account for securities valuation annually at the…Required information [The following information applies to the questions displayed below] On December 31, Mars Company had the following portfolio of stock investments with insignificant influence. Mars had no stock investments in prior periods. Stock Investments Fair Value Apple stock Cost $ 6,200 $ 8,500 Chipotle stock 3,400 1,200 Under Armour stock 10,800 12,200 Prepare the December 31 adjusting entry to report these investments at fair value.
- Required information The following information applies to the questions displayed below] The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 510 shares of the company's own common stock at $31 cash per share; the stock is now held in treasury July 15 Issued 155 of the shares purchased on February 1 for $41 cash per share Sept. 1 Issued 115 more of the shares purchased on February 1 for $26 cash per share. 4. What impact does the reissuance of treasury stock for an amount higher than the purchase price have on net income? The reissuance of treasury stock for more or less than its original repurchase cost affect net income. The transaction affects only accountsD Trepare entries for issuance of no-par value common stock. BE11.3 (LO 2), AP On June 1, Noonan Inc. issues 4,000 shares of no-par common stock at a cash price of $6 per share. Journalize the issuance of the shares assuming the stock has a stated value of $1 per share. Prepare entries for issuance of stock in a noncash transaction.View Policies Current Attempt in Progress Flint Corporation issued 1,900 shares of stock. Prepare the entry for the issuance under the following assumptions. (LUst all deblt entrles before credit entrles. Credit account titles are automatically Indented when amount is entered. Do not Indent manually.) (a) The stock had a par value of $5.25 per share and was issued for a total of $46,500. (Ь) The stock had a stated value of $5.25 per share and was issued for a total of $46,500. (c) The stock had no par or stated value and was issued for a total of $46,500. (d) The stock had a par value of $5.25 per share and was issued to attorneys for services during incorporation valued at $46,500. (e) The stock had a par value of $5.25 per share and was issued for land worth $46,500. No. Account Titles and Explanation Debit Credit (a)
- Required information [The following information applies to the questions displayed below.] The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: a. Purchased $351,100 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,550. c. Paid the dividends in (b). d. Issued 111,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. 2. Prepare journal entries to record each of these events. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)Check my work Required information Knowledge Check 01 During Year 1, Long Beach Corporation completed the treasury stock transactions described below: Jan. 2 Reacquired l,000 shares at $10 per share Feb. 2 Sold 400 shares at $12 per share Prepare the appropriate journal entry to record the sale of the treasury stock on February 2. (If no entry is required for a transaction/event, select "No journal entry required" In the first account fleld.) View transaction list Journal entry worksheet Record the sale of the treasury stock on February 2. Note: Enter debits before credits. Debit Credit Event General Journal 01 6. 7Question no....pages -.pdf Question no...pages MacBo MacBookPrepare the journal entry to record Autumn Company's issuance of 71,000 shares of no-par value common stock assuming the shares: a. Sell for $34 cash per share. b. Are exchanged for land valued at $2,414,000. View transaction list Journal entry worksheet 1 Record the issuance of 71,000 shares of no-par value common stock assuming the shares sell for $34 cash per share. 2 Note: Enter debits before credits. Transaction a. General Journal Debit Credit >