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Rios Co. is a regional insurance company that began operations on January 1, 20Y2. The following selected transactions relate to investment acquired by Rios Co., which has a fiscal year ending on December 31: Record these transactions on page 10: 2012 Feb. May July Nov. Dec. 1 Purchased 7,500 shares of Caldwell Inc. common stock at $50 per share plus a brokerage commission of $75. Caldwell has 100,000 shares of common stock outstanding. 1 Purchased securities of Holland Inc. as a trading investment for $126,000. Sold 4,500 shares of Caldwell Inc. for $46 per share less a $110 brokerage commission. Received an annual dividend of $0.50 per share on 3,000 shares of Caldwell Inc. stock. Sold the remaining shares of Caldwell Inc. for $51 per share less a $90 brokerage commission. The trading securities of Holland Inc. have a fair value on December 31 of $120,000. 1 31 15 31

Rios Co. is a regional insurance company that began operations on January 1, 20Y2. The following selected transactions relate to investment acquired by Rios Co., which has a fiscal year ending on December 31: Record these transactions on page 10: 2012 Feb. May July Nov. Dec. 1 Purchased 7,500 shares of Caldwell Inc. common stock at $50 per share plus a brokerage commission of $75. Caldwell has 100,000 shares of common stock outstanding. 1 Purchased securities of Holland Inc. as a trading investment for $126,000. Sold 4,500 shares of Caldwell Inc. for $46 per share less a $110 brokerage commission. Received an annual dividend of $0.50 per share on 3,000 shares of Caldwell Inc. stock. Sold the remaining shares of Caldwell Inc. for $51 per share less a $90 brokerage commission. The trading securities of Holland Inc. have a fair value on December 31 of $120,000. 1 31 15 31

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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F3 Instructions Chart of Accounts Labels and Amount Descriptions Journal Instructions Rios Co. is a regional insurance company that began operations on January 1, 20Y2. The following selected transactions relate to investments acquired by Rios Co., which has a fiscal year ending on December 31: Record these transactions on page 10: + $ 4 20Y2 Feb. May July Nov. Dec. 1 JIR F 1 31 1 15 Record these transactions on page 11: C 31 Q Search 5 F5 % Purchased 7,500 shares of Caldwell Inc. common stock at $50 per share plus a brokerage commission of $75. Caldwell has 100,000 shares of common stock outstanding. Purchased securities of Holland Inc. as a trading investment for $126,000. Sold 4,500 shares of Caldwell Inc. for $46 per share less a $110 brokerage commission. Received an annual dividend of $0.50 per share on 3,000 shares of Caldwell Inc. stock. Sold the remaining shares of Caldwell Inc. for $51 per share less a $90 brokerage commission. The trading securities of Holland Inc. have a fair value on December 31 of $120,000. T G F6 6 Y H F7 PDFIM & 7 U F8 * 00 8 8 F9 ( 9 JK 118 F10 0 L F11 P V + F12 PrtSc { [ + 11 I Insert 1
Transcribed Image Text:F3 Instructions Chart of Accounts Labels and Amount Descriptions Journal Instructions Rios Co. is a regional insurance company that began operations on January 1, 20Y2. The following selected transactions relate to investments acquired by Rios Co., which has a fiscal year ending on December 31: Record these transactions on page 10: + $ 4 20Y2 Feb. May July Nov. Dec. 1 JIR F 1 31 1 15 Record these transactions on page 11: C 31 Q Search 5 F5 % Purchased 7,500 shares of Caldwell Inc. common stock at $50 per share plus a brokerage commission of $75. Caldwell has 100,000 shares of common stock outstanding. Purchased securities of Holland Inc. as a trading investment for $126,000. Sold 4,500 shares of Caldwell Inc. for $46 per share less a $110 brokerage commission. Received an annual dividend of $0.50 per share on 3,000 shares of Caldwell Inc. stock. Sold the remaining shares of Caldwell Inc. for $51 per share less a $90 brokerage commission. The trading securities of Holland Inc. have a fair value on December 31 of $120,000. T G F6 6 Y H F7 PDFIM & 7 U F8 * 00 8 8 F9 ( 9 JK 118 F10 0 L F11 P V + F12 PrtSc { [ + 11 I Insert 1
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