Sheridan, Inc. had the following equity investment portfolio at January 1, 2025. Evers Company 970 shares @ $15 each $14,550 Rogers Company 900 shares @ $18 each 16,200 Chance Company 480 shares @ $8 each 3,840 Equity investments @ cost 34,590 Fair value adjustment (7,220) Equity investments @ fair value $27,370 During 2025, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Sheridan, Inc. sold 310 shares of Chance Company for $10 per share. 3. On May 15, Sheridan, Inc. purchased 110 more shares of Evers Company stock at $16 per share. 4. At December 31, 2025, the stocks had the following price per share values: Evers $17, Rogers $17, and Chance $7.
Sheridan, Inc. had the following equity investment portfolio at January 1, 2025. Evers Company 970 shares @ $15 each $14,550 Rogers Company 900 shares @ $18 each 16,200 Chance Company 480 shares @ $8 each 3,840 Equity investments @ cost 34,590 Fair value adjustment (7,220) Equity investments @ fair value $27,370 During 2025, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Sheridan, Inc. sold 310 shares of Chance Company for $10 per share. 3. On May 15, Sheridan, Inc. purchased 110 more shares of Evers Company stock at $16 per share. 4. At December 31, 2025, the stocks had the following price per share values: Evers $17, Rogers $17, and Chance $7.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Sheridan, Inc. had the following equity investment portfolio at January 1, 2025.
Evers Company
970 shares @ $15 each
$14,550
Rogers Company
900 shares @ $18 each
16,200
Chance Company
480 shares @ $8 each
3,840
Equity investments @ cost
34,590
Fair value adjustment
(7,220)
Equity investments @ fair value
$27,370
During 2025, the following transactions took place.
1.
On March 1, Rogers Company paid a $2 per share dividend.
2.
On April 30, Sheridan, Inc. sold 310 shares of Chance Company for $10 per share.
3.
On May 15, Sheridan, Inc. purchased 110 more shares of Evers Company stock at $16 per share.
4.
At December 31, 2025, the stocks had the following price per share values: Evers $17, Rogers $17, and Chance $7.
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